ALARMING REMARKS Photo taken on Wednesday, April 20, 2022 shows the US Federal Reserve in Washington, D.C., the United States. XINHUA PHOTONEW YORK: Asian markets fell sharply at the open on Friday, trailing losses on Wall Street after the US Federal Reserve (Fed) boss said an interest rate hike was likely forthcoming. A falling yen, due mainly to the interest rate gap between Japan and the United States, had boosted trade on the Nikkei 225 all of this week. But the prospect of rate hikes in the United States and ongoing pandemic disruptions in China, where millions are still under a harsh Covid-19 precipitated lockdown, weighed on Asian bourses. Fed Chairman Jerome Powell's comments reversed fortunes on Wall Street mid-session.

Source: Manila Times April 22, 2022 22:11 UTC