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The railroad strike in New Jersey, USA, ends.U.S. stock index futures opened lower on Monday, with S&P 500 futures down 0.7% and Nasdaq futures down 0.8%.UK Government: The UK discussed with other leaders the situation in Ukraine and the catastrophic toll the war is taking on both sides; the potential sanctions if Russia fails to seriously engage in ceasefire and peace talks; and the need for an unconditional ceasefire and for Russian President Vladimir Putin to take peace talks seriously.British Prime Minister Starmer spoke to the leaders of the United States, Italy, France and Germany.1. Ukraine said that Russia launched the largest drone airstrike since 2022. 2. US Secretary of State: Russia and Ukraine may hold talks in the Vatican. Russia is preparing a list of "ceasefire requirements" in Ukraine. 3. Financial Times: Russian President Putin refused to discuss the peace plan proposed by the United States, Ukraine and Europe. 4. Putin: Russia respects the interests of the United States and expects to be treated the same. 5. Medvedev: The "ultimatum" of Western countries will not help end the Russian-Ukrainian conflict. 6. What kind of special military action results does Russia need to achieve? Putin responded: 1. Eliminate the root causes of this crisis; 2. Create conditions for lasting and stable peace; 3. Ensure the security of the Russian nation; 4. Safeguard the rights and interests of those who regard Russian as their mother tongue and Russia as their motherland.

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.


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