Stocks retreated on Thursday, with sentiment subdued by the Federal Reserve's hawkish tone and weak economic data from China.
Meanwhile, concerns over European gas supplies are back on traders' radar. European natural gas prices spiked as the Netherlands is set to announce it will close the region's biggest gas site later this year. Benchmark futures soared as much as 24 per cent on Thursday to their highest level since early April.
The dollar trimmed its first advance in three days, gains prompted by traders mulling prospects for further U.S. rate hikes. Treasury yields climbed. The euro strengthened ahead of the ECB policy announcement. The PBOC's move also forms part of broader stimulus efforts to support real estate and domestic demand. Data showing retail sales moderated more than expected in May added to worries about further slowing in China. Industrial production was also lower, but met consensus forecasts.
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