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Global Market Quick Take: Asia – June 22, 2023
The benchmark US equity indices ended the day in red with NASDAQ 100 leading losses, down 1.4% and S&P 500 down 0.5%. Fed Chair Powell added little new information in his comments at the House, still making a case for another two rate hikes. But other Fed members were leaning dovish. Tech sentiment was however relatively weaker, led by Tesla which slid 5% after a downgrade from Barclays. Microsoft and Nvidia also dragged. Oil prices however underpinned a recovery in energy stocks while crypto stocks like Coinbase and Microstrategy rallied after bitcoin surged above 30k. Treasuries: Hot UK CPI causes jitters ... (full story)