Asian stocks slumped on Thursday after the U.S. Federal Reserve signaled it plans to hike interest rates in March and end its bond purchases that month to counter escalating inflation.
The hawkish tone, reflecting the upside risks to inflation, triggered a dollar rally and dented the appeal of equities. Escalating Russia-Ukraine political tensions also sapped investors' appetite for riskier assets.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.