Business Maverick: Stocks, US Futures Waver Amid Fed, China Worries: Markets Wrap

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Asian stocks and US equity futures struggled to make headway on Friday as the Federal Reserve’s plan for aggressive policy tightening and China’s Covid lockdowns hung over markets.

Shares fell in Japan and fluctuated in Hong Kong and China, while S&P 500 and Nasdaq 100 contracts were steady. Global equities are nursing losses for the week, hurt by the risk of an economic downturn as the Fed tackles inflation.slid for a third day as Tencent Holdings Ltd.’s decision to shut its game streaming service further hurt sentiment in a sector already bogged down by regulatory risks.

A dollar gauge was in sight of its highest level since 2020. Oil fell, squeezed by plans to release millions of barrels of crude from strategic reserves and China’s demand-sapping virus outbreak.

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