After price data Asian markets open lower slam Wall Street
As a report after Wall Street fell the most since June 2020 showed that on the U.S. economy inflation has kept a surprisingly strong grip Asian markets on Wednesday skidded lower. In early trading Wednesday Tokyo’s benchmark Nikkei 225 lost 2.8%, to 27,816.58, while Sydney’s S&P/ASX 200 declined 2.5% to 6,834.80. The Kospi lost 2.6% to 2,386.29, in Seoul. For the Dow industrials and the S&P 500 up 0.1% the U.S. futures edged higher with the contracts. European futures also declined. The Dow lost more than 1,250 points and the S&P 500 sank 4.3% on Tuesday, adding to risks for the economy. For the Federal Reserve to raise interest rates even more Tuesday’s hotter-than-expected report on inflation has traders bracing. Over the past four days the steep sell-off didn’t quite knock out the market’s gains, but for the major U.S. indexes and erased an early rally in European markets it ended a four-day winning streak. From 4.3% to 3,932.69 the S&P 500 sank. 3.9% to 31,104...