Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from global markets overnight, as traders remain concerned about the outlook for interest rates and about how much further the central bank will raise rates ahead of next week's US Fed meeting following recent upbeat economic data. Asian Markets closed mixed on Tuesday.
Top executives from the biggest U.S. banks have warned that stubbornly high inflation could trigger a U.S. economic recession next year. This reflects worries that in order to bring inflation down close to its 2 percent target, the Fed will need to push the economy into a prolonged recession.
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