In Asian Equity Markets stocks edged higher on Friday, while the U.S. dollar hung near its weakest level since May, with investors fretting about the risks of a global recession as the Federal Reserve presses on with interest rate increases. Japan’s Nikkei added 0.16 percent, while Australia’s benchmark edged 0.09 percent higher, although South Korea’s Kospi fell 0.24 percent. Hong Kong’s Hang Seng advanced 0.75 percent and mainland blue chips were 0.32 percent firmer.

In Currency Markets the U.S. dollar loitered around its seven-month lows on Friday as fears of an economic slowdown dented risk appetite, while the yen eased even as speculation swirls that the Bank of Japan (BOJ) will eventually move away from its ultra-easy policy. The dollar index rose 0.098 percent to 102.12, not far off the seven-month low of 101.51 it touched on Wednesday. Meanwhile, the euro was flat, while sterling was last trading at $1.2372, down 0.14 percent on the day. The Australian dollar rose 0.17 percent versus the U.S. currency to $0.692. The kiwi rose 0.25 percent to $0.641.

In US Equity Markets stock indexes closed lower on Thursday after data pointing to a tight labor market renewed concerns the Federal Reserve will continue its aggressive path of rate hikes that could lead the economy into a recession. The Dow fell 0.76 percent, to 33,044.56, the S&P 500 lost 0.76 percent, to 3,898.85 and the Nasdaq Composite fell 0.96 percent, to 10,852.27. On the earnings front, Procter & Gamble Co declined 2.11 percent after warning of commodity costs pressuring profits, despite raising its full-year sales forecast.

In Commodities Markets oil prices settled 1 percent higher on Thursday, extending a recent rally built around rising Chinese demand, while the market wrote off a second straight week of large builds in U.S. crude inventories. Brent crude futures gained 1.4 percent, to settle at $86.16 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose by 1.1 percent, to settle at $80.33 per barrel. Spot gold shot up 1.1 percent to $1,924.09 per ounce. Elsewhere, spot silver jumped 1.5 percent to $23.77 per ounce, platinum fell 0.3 percent to $1,034.88 while palladium gained 1.5 percent to $1,743.50.

In European Equity Markets stocks recorded their worst single-day selloff of the year on Thursday, as disappointing earnings reports, weak U.S. economic data and hawkish comments from central bankers rekindled fears of a global economic slowdown. The pan-European STOXX 600 index fell 1.6 percent, breaking a six-day winning streak and marking its biggest percentage loss since December 15. Spain’s Bankinter fell 2.9 percent as the lender hit its net profit target in 2022, a year ahead of schedule, though higher costs took some of the shine off a strong final quarter.

In Bond Markets benchmark 10-year U.S. Treasury yields bounced off four-month lows on Thursday as they neared a key technical level and the recent bond rally looked overdone for the short-term. The 10-year yields were last at 3.397 percent, after earlier falling to 3.321 percent, the lowest since Sept. 13. Two-year yields were last 4.118 percent, after earlier reaching 4.041 percent, the lowest since Oct. 4. The two-year, 10-year curve was last at minus 72 basis points, while the spread between three-month and 10-year yields was at minus 128 basis points.