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Asian markets are experiencing declines as the Federal Reserve’s hawkish stance has led to a sell-off in Treasuries and a volatile session on Wall Street.
As of the Tuesday morning trade, the Japanese Nikkei 225 is down by 1.17% at 31,387.06, the broader Topix is showing a decrease of 0.97% at 2,291.95, and the Australian S&P/ASX 100 has dropped by 1.31% at 5,935. This decline is attributed to the Fed’s communication emphasizing the need to maintain high borrowing costs in order to control inflation.
Overnight, the S&P 500 registered a modest increase of 0.34% to reach 4,288.39. The Dow Jones Industrial Average, on the other hand, experienced a slight decrease of 0.2%, falling by 74.15 points to 33,433.35. Meanwhile, the Nasdaq composite saw a gain of 0.7%, rising by 88.45 points to reach 13,307.77.
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