The sell-off on Wall Street overnight is dragging Asian stock markets in the red on Friday, as traders react to the hawkish remarks by US Fed Chair Jerome Powell that the central bank "will not hesitate" to resume raising interest rates if it becomes appropriate. The surge in Treasury yields also weighed on the markets. Asian markets ended mostly higher on Thursday.
Participating in a policy panel in Washington, D.C., Powell acknowledged that U.S. inflation has slowed over the past year but pointed out it remains well above the Fed's 2 percent target. He added that the central bank will continue to move carefully and decide on its policy path meeting by meeting.
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