Major Asian bourses, European stocks and U.S. futures slipped as traded digests record high inflation number and speculation on FED’s rates hike.
After two sessions of gains, STOXX 600 inched down by while U.S. futures on a downward momentum.
The KOSPI, TOPIX and CSI 300 closed down by 0.35%, 0.68% and 1.64% respectively following today’s early momentum. The SET and HSI however shyed away loss by 0.09% and 0.11% respectively.
The dollar index underperformed against its group of 10 peers.
President Patrick Harker of Philadelphia Federal Reserve said he would currently support three interest rate hikes this year, starting from March. He He also added he is open to more if inflation worsens.
Atlanta Fed President Raphael Bostic made similar comments of supporting at least three times this year, beginning as soon as March.
Oil prices stabilized after data from the U.S. Energy Information Administration on Wednesday showed fuel demand has taken a hit from Omicron, with gasoline stockpiles increasing by 8 million barrels in the week to Jan. 7, compared with analyst expectations for 2.4 million-barrel rise.
The WTI is trading up by 0.16% at $82.77 per barrel while the Brent is up by 0.31% at $84.91 per barrel.