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Japan’s Stock Plunge Deepens, Bonds Rally, Rate-Hike Bets Fade

(Bloomberg) -- Japanese stocks sank deeper into the red on Friday, with the Topix index tumbling into a technical correction as it led Asian equities lower for a second day.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLocal Governments Vie for Fired Federal WorkersLondon Clears Final Hurdle for More High-Speed Trains to EuropeWhat Would ‘Transportation Abundance’ Look Like?Investors continue

Market tariff fallout continues as Powell says Fed still in wait and see mode

Losses in the S&P 500 and Nasdaq [.N]steepened after Federal Reserve chair Jerome Powell said President Donald Trump's new tariffs are "larger than expected" and the economic fallout including higher inflation and slower growth likely will be as well, pointing to the potentially difficult set of decisions ahead for the central bank. The global selloff in stocks came amid a move into low risk assets like U.S. government bonds even as safe-haven gold recoiled from Thursday's record high along side a further slide in crude oil on fears that a trade war would cause a global recession,.