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Asian Stocks Set to Slide on Rekindled Rate Fears: Markets Wrap [Yahoo! Finance Canada]
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Most Read from Bloomberg Equity futures for Tokyo and Sydney pointed to drops of at least 1%, with many markets in the region closed for public holidays. The S&P 500 fell the most since January after a jump in a broad gauge of US labor costs closely watched by policymakers reinforced bets that officials will keep rates unchanged at a two-decade high on Wednesday — and are unlikely to lower them anytime soon. US stock futures fell in early trading. ADVERTISEMENT An index of the dollar jumped the most in more than two weeks on Tuesday while Treasury two-year yields reached the highest level since November. “The markets are in full fear-mode” before the Fed announcement, said Andrew Brenner at NatAlliance Securities. “Rates won't go down in the near future and equities are having trouble justifying their prices.” The last time Fed Chair Jerome Powell spoke, he pointed to the lack of further progress in bringing inflation down and to enduring strength in the labor market. The l
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