Asian stocks fell broadly on Wednesday despite a jump in U.S. equities overnight. Inflation and interest rate concerns took center stage ahead of congressional testimony by Federal Reserve Chair Jerome Powell.
Investors looked for further clues about whether there would be another 75-basis-point rate hike at the Fed's next meeting in July.
Chinese shares fell sharply, with healthcare stocks succumbing to selling pressure after reports emerged that Beijing is mulling a ban on sales of medicines on third-party e-commerce platforms.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.