- As investors weighed the risk of recession and tighter monetary policy, equities in Asia continued to fall, while the dollar rose against major currencies including the yen.
- Hong Kong shares were headed for their lowest level in a decade, led by technology firms, and Chinese stocks fell to a six-month low. South Korea's benchmark index fell after the central bank reverted to aggressive interest-rate hikes.
- Japan and Australia's stocks fluctuated, while US futures were mixed after the S&P 500 fell for the fifth consecutive session. The Nasdaq 100 hit a new two-year low.
- As investors brace for higher US interest rates, the dollar strengthened and the yen fell below a level that has previously triggered intervention, as the Bank of Japan maintains ultra-easy policy settings.
- Markets are still jittery following comments from BoE Gov. Bailey, who stated that the BoE would discontinue its special support for the gilts market. Bailey's stance adds to investors' concerns about hawkish policymakers. Fed's Mester stated that policy needed to be tightened further to combat inflation.
