In Asian Equity Markets stocks fell on Monday as stronger-than-expected U.S. inflation data ramped up concerns over rising interest rates and a hawkish Fed, while uncertainty over upcoming Chinese economic indicators also weighed. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes fell about 0.2 percent each. The Taiwan Weighted index and South Korea’s KOSPI lost 0.7 percent and 1.2 percent, respectively. Hong Kong’s Hang Seng index lost 0.3 percent. Australia’s ASX 200 index fell over 1 percent on losses in major miners BHP Group Ltd and Rio Tinto Ltd.

In Currency Markets the dollar held firm near a seven-week peak on Monday, after a slew of strong U.S. economic data reinforced the view that the Federal Reserve will have to raise interest rates further and for longer. The euro was flat and pinned near the seven week low of $1.0536 it hit on Friday. Sterling was last at $1.1943, down 0.01 percent on the day. The Japanese yen strengthened 0.12 percent to 136.29 per dollar. The Aussie was 0.25 percent lower at $0.671, having touched near two month low of $0.6705. The kiwi fell 0.28 percent versus the greenback at $0.614.

In US Equity Markets main indexes posted their biggest weekly decrease of 2023 after sharp losses on Friday, as investors braced for the possibility of more aggressive rate hikes from the U.S. Federal Reserve as U.S. economic data pointed to resilient consumers. The Dow fell 1.02 percent, to 32,816.92, the S&P 500 lost 1.05 percent, to 3,970.04 and the Nasdaq Composite fell 1.69 percent, to 11,394.94. Boeing Co slid 4.8 percent after the Federal Aviation Administration said the planemaker temporarily halted deliveries of its 787 Dreamliner jets.

In Commodities Markets oil rose on Friday, and was flat on the week, with prices supported by the prospect of lower Russian exports but pressured by rising inventories in the United States and concerns over global economic activity. Brent crude futures settled at $83.16 a barrel, up 1.2 percent. WTI U.S. crude futures settled at $76.32 a barrel, rising 1.2 percent. Spot gold fell 0.6 percent to $1,810.89 per ounce. Spot silver fell 2.3 percent to $20.81 and platinum fell 4 percent to $909.07. Palladium fell 2.7 percent to $1,386.93, after touching its lowest level since August 2019 at $1,363.52.

In European Equity Markets stocks slid on Friday to end the week lower as a slew of U.S. economic data fed into fears that central banks are far from finished hiking rates. The STOXX 600 index fell 1.0 percent. German chemicals giant BASF SE fell 7.9 percent as it flagged a decline in annual earnings and said it plans to cut 2,600 jobs and halt buybacks. Travel & leisure stocks slid 3.0 percent, dragged down by British Airways-owner IAG. Radiation therapy equipment Elekta jumped 9.2 percent to the top of the STOXX 600 after its third-quarter earnings beat expectations.

In Bond Markets U.S. Treasury yields jumped on Friday, with two-year yields hitting three-and-a-half-month highs, after data showed that U.S. consumer spending rebounded sharply in January amid strong income growth, while inflation accelerated. Two-year yields, which are highly sensitive to Federal Reserve policy, rose as high as 4.826 percent, the highest since Nov. 4. Benchmark 10-year yields increased to 3.967 percent. They are holding just below the 3.978 percent level reached on Thursday, which was the highest since Nov. 10.