Fed minutes revealed that there was a consensus to accelerate the monetary tightening in case inflation becomes more permanent.
With the increase of geopolitical risks, global stocks are experiencing a wave of sales, bond yields are falling, and the dollar is getting stronger.
Japan’s Nikkei 225 and Hong Kong Hang Seng are leading the declines in the Asia Pacific. Chinese stocks, which have recently been supported by the liquidity injection of the People’s Bank of China, are also positive this morning.
The currencies of developed countries are losing value against the dollar. While developed country currencies also lost against the dollar, the 0.3 percent rise in the Japanese yen against the dollar indicates that safe-haven purchases have strengthened.
Oil prices are falling after hope for a nuclear deal with Iran arose. Brent April’s contract barrel price is just under $93, down 2 percent on the day.