- Asian markets fell alongside Wall Street on Thursday, as concerns about economic growth outweighed hopes that central banks will moderate the pace of interest rate hikes.
- Treasuries extended their gain from the previous session, indicating a significant reversal from the recent link between bonds and stocks.
- Hong Kong shares fluctuated, with substantial weakening in technology companies, while Japanese shares fell sharply. Futures for the S&P 500 varied after the benchmark fell 1.6% on Wednesday, the most in a month.
- The decline in Japanese indexes reflected rising pressure on the country's currency after the central bank left policy settings unchanged on Wednesday.
- After a dramatic dip on Wednesday, traders were once again focused on the benchmark 10-yr Japanese government bond yield, expecting it to begin crawling back toward the target ceiling of 0.5%. It was 0.415% at the time.
- After being whipsawed during the previous 24 hours, the yen resumed its climb. A currency strength index traded little altered.
