Stock market: Asia in the red with rates and recession, euro still down

Gas hikes weigh, aid checks in September (ANSA)

(ANSA) – MILAN, AUGUST 23 – The renewed fears for the Fed’s continuation of the rate squeeze and the risk of a deterioration in the macro picture, fueled by the rush in energy prices, are also felt in Asia, after having sank yesterday the European lists and Wall Street. In addition to the global stock market, which returned to its lows in August, sales did not spare bonds, with US Treasury yields climbing more than 3%, in view of new rate hikes.

Tokyo loses 1.2%, Seoul 1%, Sydney 1.1% while Hong Kong falls by 0.8%, Shanghai by 0.1% and Shenzhen by 0.3%.

The futures on European lists and on Wall Street are negative, in a session that is waiting to read the SME data of many countries to get information on the economic trend.

On the currency front, the fears of a European recession, due to the rush in the price of gas, make the single currency weak towards all the main counterparties and set new lows on the dollar, at 0.9915 (-0.2%). Oil rose by 0.7%, with WTI above $ 91 per barrel and Brent above $ 97, supported by the possibility of new production cuts by OPEC + (ANSA).

Source: Ansa

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