HONG KONG: Equities fell in Asia on Thursday as traders grew increasingly worried that central-bank moves to rein in inflation could tip economies into a recession. The move came as several top Federal Reserve (Fed) officials said they favored similar increases in the United States. After a weak lead from Wall Street, Asia was mostly in the red. Concern over the outlook was shared by Wall Street titan Jamie Dimon, who warned that the wave of unprecedented crises were combining to cause an economic superstorm. "More supply essentially soothes some of those inflationary fears, even if there is a lot more work to do when it comes to fighting inflation," he added.

Source: Manila Times June 03, 2022 01:44 UTC