The sell-off in the global markets overnight is dragging Asian stock markets mostly lower on Friday, as traders react to an escalation in tensions in the Middle East, and lingering worries about global economic slowdown and the outlook for interest rates. Global equities also came under pressure after bond yields once again retraced its highest closing level in over sixteen years. Asian markets ended mostly lower on Thursday.
In his speech at an Economic Club of New York luncheon, US Fed Chair Jerome Powell argued in prepared remarks that inflation is "still too high" and warned additional monetary policy tightening may be needed, citing recent data showing the resilience of economic growth and demand for labor.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.