Asian stocks higher after Wall Street declines on growth worries

A currency trader watches monitors at a foreign exchange dealing room in Seoul, South Korea, June 23, 2022. Asian stock markets were mostly higher Thursday after the Federal Reserve chairman said the U.S. central bank wants to avoid causing a recession but one is possible as it raises interest rates to cool surging inflation.

"The market now accepts recession is a risk, having been in total denial," said Michael Every of Rabobank in a report. Investors worry U.S. and European rate hikes might derail global growth, but Powell said it is “absolutely essential” that the Fed restore stable prices. The Dow Jones Industrial Average gave up 0.2% to 30,483.13. The Nasdaq composite slipped 0.2% to 11,053.08.

Surging prices have soured consumer sentiment in the United States, the world's biggest market. Retail spending is sagging.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks mixed after Wall Street declines on growth worriesAsian stock markets were mixed Thursday after Wall Street edged lower amid fears higher interest rates will chill global economic growth.
Source: CTVNews - 🏆 1. / 99 Read more »

Global stocks rebound as Wall Street futures gain after holidayGlobal stocks rebounded Tuesday as Wall Street futures moved higher after a U.S. market holiday.
Source: CTVNews - 🏆 1. / 99 Read more »