Asian Markets Struggle As Fears Build Over Tech Rally, US Rates [Barron's]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
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Source: Barrons
The increasingly risk-averse mood on trading floors also dragged on the crypto sector, with bitcoin erasing all its gains this year -- just over a month after hitting a record high. Advertisement - Scroll to Continue Meanwhile, simmering tensions between China and Japan hit tourism and retail firms on Tokyo's exchange. Stocks have enjoyed a healthy rally since their tariff-fuelled swoon in April, with tech firms leading the way as companies pumped eye-watering amounts of cash into all things linked to artificial intelligence. That has been compounded by a weakening US jobs market that has fanned expectations the Fed will cut rates. However, the gains have petered out in recent weeks as investors re-evaluate those two pillars. Advertisement - Scroll to Continue Fed boss Jerome Powell said a third-straight reduction in borrowing costs was not certain next month, while other officials have hinted they intend to stand pat. The decision makers said they were concerned that
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