Asian stocks retreated on Wednesday, with uncertainty over the Federal Reserve's future rate hike path, more disappointing Chinese economic data and fresh concerns over the health of the U.S. banking sector keeping investors nervous.
U.S. consumer spending continues to show signs of persistent strength, raising concerns that interest rates will remain higher for longer.
Data showed that China's house prices continued to decline in July, in a further sign of the property slowdown.
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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.