- Asian stocks fell on Wednesday as traders considered the latest earnings reports from the US and a rise in Australian core inflation, which showed the global economy's rising pricing pressures.
- In Japan, Hong Kong, and China, equities plunged after authorities instructed billionaire Hui Ka Yan to use his own riches to help China Evergrande Group's mounting debt crisis. The US has heightened tensions with Beijing by prohibiting China Telecom from operating in the US.
- Futures in the US varied following a mixed reaction to earnings announced later in the day. In prolonged trade, Robinhood Markets and Texas Instruments fell, while Google Parent Alphabet remained stable and Microsoft and Twitter climbed. Earlier, the S&P 500 hit a new high, with United Parcel Service and General Electric rising on excellent earnings.
- Australia's bond yields and currency rose after core inflation came in above expectations. For the first time since 2019, the three-year yield surpassed 1%. Treasury yields rose as well, especially at shorter maturities. The dollar remained stable.
