Asian markets track Wall St losses on rate, recession fears
While traders are keeping close tabs on the release of corporate earnings, their attention is turning to next month's Fed rate decision as reports show US inflation could come down. – AFP, April 21, 2023.
ASIAN markets fell today on lingering recession worries as data indicated the US economy was slowing down, while Federal Reserve officials pressed their case for further interest rate hikes to battle stubborn inflation. The losses tracked a sell-off on Wall Street, where tech firms took a hit from bets on further monetary tightening and carmakers tumbled due to concerns about a possible price war.
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