MODEL PORTFOLIO
THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
investment-ss-3
Reports
Policy rate views: Fed expected to do baby steps
DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Faster but full-year average within target
DOWNLOAD
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
DOWNLOAD
View all Reports
Metrobank.com.ph How To Sign Up
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • Deficit spending remains unabated

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph How To Sign Up
Access Exclusive Content Login to Wealth Manager
Search
MODEL PORTFOLIO THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
investment-ss-3
Reports
Policy rate views: Fed expected to do baby steps
September 18, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Faster but full-year average within target
September 5, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
September 2, 2025 DOWNLOAD
View all Reports
Equities 3 MIN READ

Asia continues global stock slump as Fed tightening fears flare

August 31, 2022By Reuters
Related Articles
Dollar falls as Powell says Fed is on track to cut rates this year March 6, 2024 When higher US yields and dollar is a good thing December 10, 2023 Dollar still headed higher after correction in Fed betting July 15, 2022

TOKYO, Aug 31 (Reuters) – Asian markets extended the global stocks selloff on Wednesday, as investor worries about aggressive monetary tightening were inflamed further by strong US jobs data.

The overnight JOLTS report on job openings – closely watched by the Federal Reserve – pointed to extremely tight labour conditions, defying the Fed’s tightening efforts so far and bolstering the case to do more.

To discourage speculation about rate reductions next year, New York Fed President John Williams said on Tuesday that the central bank likely needed to get the policy rate above 3.5%, and was unlikely to cut rates at all in 2023.

“The strong JOLTS data and Fed rhetoric was the overwhelming narrative,” knocking stocks further and pushing up bond yields, Tapas Strickland, an analyst at National Australia Bank, wrote in a note to clients.

“Financial conditions are a key transmission mechanism for monetary policy, and equities are part of that.”

Japan’s Nikkei sagged 0.6%, while Australia’s share benchmark slid 0.4% and South Korea’s Kospi lost 0.5%.

Chinese blue chips retreated 0.5%. Hong Kong’s Hang Seng slumped 1.8%, with its tech shares tumbling 2.5%.

MSCI’s broadest index of Asia-Pacific stocks declined 0.7%. Its world equity index slumped 0.9% on Tuesday, for a third straight day of losses.

US equity futures though pointed to some respite, with S&P 500 e-minis indicating a 0.3% rebound from the index’s 1.1% slide on Tuesday.

Investors will now be even more attentive to the monthly US jobs report on Friday.

Earlier on Tuesday, data showed German inflation rose to its highest in almost 50 years in August, strengthening the case for the European Central Bank to also go for a super-sized rate hike next month.

Money markets currently place 68.5% odds of a 75 basis-point increase by the Fed on Sept. 21.

The two-year US Treasury yield, which is relatively more sensitive to the monetary policy outlook, hit a fresh 15-year high at 3.497% overnight, but eased back to 3.4558% in Tokyo trading.

The 10-year Treasury yield, which hit a two-month high of 3.153% on Tuesday, stood at 3.1137%.

The dollar index, which measures the currency against six major peers, softened slightly to 108.69, after starting the week by marking a new two-decade high at 109.48.

Gold was little changed at USD 1,723.62, hovering near a one-month low of USD 1,719.56, set Monday.

Crude oil rebounded from declines of more than USD 5 overnight, as industry data showed US fuel stocks fell more than expected.

US West Texas Intermediate (WTI) crude futures rose 64 cents to USD 92.28 a barrel in early Asian trading, after sliding USD 5.37 in the previous session driven by recession fears.

Brent crude futures climbed 48 cents, or 0.5%, to USD 99.79 a barrel, trimming Tuesday’s USD 5.78 loss.

(Reporting by Kevin Buckland)

 

 

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Access this content:

If you are an existing investor, log in first to your Metrobank Wealth Manager account. ​

If you wish to start your wealth journey with us, click the “How To Sign Up” button. ​

Login HOW TO SIGN UP