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Global stocks slip after Fed Powell's remark, dollar near five-week high

Comments from the Federal Reserve's new chief rekindled fears about the pace of US monetary tightening this year, sending Wall Street tumbling

Reuters  |  Tokyo 

Asian stocks skidded on Thursday after comments from the Federal Reserve's new chief rekindled fears about the pace of US monetary tightening this year, sending Wall Street tumbling for its worst performance in two years and lifting the dollar. For weeks investors have been on edge, with the recent rout in equities cascading through financial markets amid concerns higher interest rates in advanced economies, led by the United States, could dent world growth. Fed Chairman Jerome Powell, in his first public appearance as head of the US central bank, vowed on Tuesday to prevent ...

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First Published: Thu, March 01 2018. 07:26 IST
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