Asian stock markets are down with sharp losses on Thursday following the overnight sell on Wall Street amid worries about rising interest rates and reflecting weakness in technology stocks due to worries about growing U.S.-China tensions.
Following the worst market sell-off on Wall Street since February, U.S. President Donald Trump again criticized the Federal Reserve for raising interest rates. "I think the Fed is making a mistake... I think the Fed has gone crazy," Trump told reporters on Wednesday.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.