TOKYO (Reuters) - Global stocks and the dollar slumped on Wednesday after a strong White House advocate for free trade resigned, fanning fears that President Donald Trump will proceed with protectionist tariffs and risk a trade war.
Italy's stock market slid on Monday following the country's unclear election outcome,
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The US economy “remains strong”, the Federal Reserve chairman, Jerome Powell, told Congress on Tuesday as he signaled the central bank is on course to carry on gradually increasing interest rates in the coming months.
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The Board decided to leave the cash rate unchanged at 1.50 per cent.
The interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.
The Committee decided to maintain the target range for the federal funds rate at 1-1/4 to 1‑1/2 percent.
Asian equities fell and U.S. stock futures headed lower, extending the biggest selloff for global stocks in two years as investors adjusted to a surge in global bond yields.
Outgoing Federal Reserve Chair Janet Yellen said U.S. stocks and commercial real estate prices are elevated but stopped short of saying those markets are in a bubble.