- The majority of Asian stocks fell as traders weighed inflation risks, a covid-19 outbreak in China, and earnings prospects for major technology firms.
- Equities fell slightly in Japan, Hong Kong, and China, where the central bank increased its daily liquidity injection.
- Investors are evaluating a delta-variant virus outbreak in China, which is expected to worsen, as well as economic challenges from a slowing real-estate sector.
- On Friday, Fed's Powell warned that inflation could remain high for a longer period of time, while also stating that the Fed will begin tapering bond purchases soon but will be patient with rate hikes.
- The dollar was steady and the yen retreated.
- The Turkish lira plummeted after Turkey’s Pres. Erdoğan declared that ambassadors from ten countries, including the US, Germany, and France, were no longer welcome in Turkey. They had petitioned for the release of a prominent businessman and philanthropist.
