Asian stocks retreated on Friday as hotter-than-expected U.S. producer price data coupled with hawkish comments from two Federal Reserve officials stoked worries about further interest rate hikes.
Technology stocks led losses in the region as the benchmark 10-year U.S. Treasury yield climbed to a high of 3.900 percent, its highest level since December 30.
The dollar strengthened against Asian currencies, denting bullion's appeal. Oil extended losses as concerns mounted about U.S. oversupply.
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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.