[HONG KONG] Asian markets were down across the board on Friday after disappointing US earnings and a bearish outlook on hopes for a Fed rate cut weighed on Wall Street overnight.
But strong American economic data, including Thursday's report showing an increase in durable goods sales in June, has investors fearing a less dovish Fed announcement."Markets are getting nervous that Fed could disappoint next week," said Oanda senior market analyst Edward Moya.Recent data also showed that Washington's long-running trade war with Beijing was"not having a terrible impact" on the American economy, he added, tempering hopes of a sizeable rate cut.
Beleaguered automaker Nissan was off 2.6 per cent after announcing a 95-per cent plunge in quarterly net profit and the shedding of 12,500 jobs on Thursday.