- US equity futures fell and Asian stocks were mixed, hampered by concerns about China and a reminder from Federal Reserve officials that their primary goal is to combat high inflation.
- S&P 500 and Nasdaq 100 contracts were down, while declines in China and Hong Kong weighed on MSCI's Asia-Pacific share index. Global equities just had their best month since 2020, but they are still down 15% this year.
- Recent data and developments highlighted China's economic and regulatory challenges, including a surprise contraction in factory activity, which demonstrated the cost of Beijing's preference for mobility curbs to combat congestion.
- Alibaba Group Holding Ltd., China's e-commerce behemoth, fell after being added to a list of companies facing delisting by the US for failing to provide access to audits to US officials. This depleted a Hong Kong index of Chinese technology firms.
- Fed's Kashkari stated on Sunday that the central bank is committed to meeting its long-term inflation target of 2%. Previously, Fed's Bostic stated that the monetary authority has more room to raise borrowing costs.
- Treasury yields fell, leaving the 10-year yield at 2.66%, well below the peak of 3.50% in June. The yen rose for a fourth session as the dollar index fell. Oil, gold, and bitcoin have all fallen in price.
