Asian stocks tumbled on Monday, as U.S. Treasury yields rose and the dollar index traded at its highest level in over 20 years after the head of the U.S. Federal Reserve indicated high interest rates will continue for some time to curb inflation.
Fed Chair Jerome Powell on Friday pledged that the central bank would use all tools forcefully to attack inflation, dashing hopes the central bank would soften its rate hike stance to support growth.
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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.