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GLOBAL MARKETS-Asian equity futures under pressure after U.S. stocks, oil slide

Stock MarketsMar 24, 2021 07:20
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WASHINGTON, March 23 (Reuters) - Asian stocks were poised to
follow Wall Street lower on Wednesday as the cost of the U.S.
stimulus and infrastructure plans and new pandemic curbs limited
investors' risk appetite.
Hong Kong's Hang Seng index futures HSIc1 fell 0.2%. In
Japan, Nikkei futures JNIc1 were 0.6% lower. Australian
futures YAPcm1 traded either side of unchanged.
Small cap stocks, energy and international equities fell on
Tuesday.
On Wall Street, the Dow Jones Industrial Average .DJI fell
308.05 points, or 0.94%, to 32,423.15, the S&P 500 .SPX lost
30.07 points, or 0.76%, to 3,910.52 and the Nasdaq Composite
.IXIC dropped 149.85 points, or 1.12%, to 13,227.70.
Benchmark 10-year notes US10YT=RR rose 19/32 in price to
yield 1.6153%, from 1.682% late on Monday after Federal Reserve
Chair Jerome Powell and Treasury Secretary Janet Yellen spoke to
Congress.
Powell downplayed the risk of inflation. Yellen said the
U.S. economy remains at risk as she fielded lawmakers' questions
about possible infrastructure and tax increase plans under
consideration. Crude oil futures tumbled more than 6% due to demand
concerns amid a third wave of the coronavirus pandemic.

Germany extended its lockdown to April 18. A U.S. health
agency said the AstraZeneca (NASDAQ:AZN) Plc AZN.L vaccine developed with
Oxford University may have included outdated information in its
data, further fueling investor concerns over the recovery.
"Risk assets continued their second day of decline, as
outbreak concerns rose in Europe. The bond market saw heavy
inflows, further flattening the long-end of the curve,"
Commonwealth Bank of Australia market analysts said note.
The U.S. dollar .DXY rose against a basket of major
currencies, weighing on gold prices XAU= .
U.S. manufacturing data was due later on Wednesday and
Powell was expected to give the same prepared testimony to a
Senate banking panel.

GLOBAL MARKETS-Asian equity futures under pressure after U.S. stocks, oil slide
 

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