Asian markets follow Wall St lower amid gloomy outlook ...Middle East

Asian stock markets have slid further amid gloom about weaker global economic growth as central banks raise interest rates to cool inflation. Shanghai, Hong Kong and Sydney declined. Tokyo advanced. Oil prices rose almost $1 per barrel. Markets are sliding after the Federal Reserve raised its key lending rate last week and the European Central Bank said more rate hikes are ahead. That fueled investor fears central bankers might be willing to cause a recession to fight inflation that is at multi-decade highs. Wall Street declined for a fifth day after the Fed said last week rates might have to stay elevated longer than previously forecast.

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Last updated : 20 Dec 2022 clock 07:08 AM

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Asian markets follow Wall St lower amid gloomy outlook ...Middle East

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