In Asian Equity Markets stocks edged higher on Thursday, propped up by Hong Kong and China stocks even as growing fears of an economic slowdown and worries over the pace of the Federal Reserve’s interest rate hikes weighed on sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.19 percent, set to snap a two-day losing streak. China’s stock market was 0.12 percent higher, with Hong Kong’s Hang Seng Index rising nearly 2 percent. Elsewhere in Asia, Australia’s S&P/ASX 200 index lost 0.67 percent, while Japan’s Nikkei fell to near one-month low.

In Currency Markets the U.S. dollar clawed back some of the previous day’s declines on Thursday as investors weighed the outlook for Federal Reserve policy amid simmering fears that high interest rates could spur a recession. The euro was flat at $1.0505, while sterling eased 0.18 percent to $1.2190. The risk-sensitive Australian and New Zealand dollars eased slightly, with the Aussie down 0.16 percent at $0.67145 and the kiwi off 0.06 percent at $0.6353. The dollar-yen pair, which is extremely sensitive to U.S. yields, jumped 0.37 percent to 137.06 following a 0.34 percent depreciation overnight.

In US Equity Markets the S&P 500 and Nasdaq fell on Wednesday after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Fed’s monetary policy tightening might feed through into corporate America. The S&P 500 lost 0.19 percent, to close at 3,933.92 and the Nasdaq Composite fell 0.51 percent, to finish at 10,958.55. The Dow was flat, ending on 33,597.92. Three of the 11 major S&P sector indexes were higher, with healthcare one of them. Technology and communication services, down 0.5 and 0.9 percent respectively, were the worst performers.

In Commodities Markets the price of oil fell to its lowest level this year on Wednesday, forfeiting all of the gains since Russia’s invasion of Ukraine exacerbated the worst global energy supply crisis in decades Brent futures fell 2.8 percent, to $77.17 a barrel. U.S. West Texas Intermediate crude fell $2.24, weakening further from Tuesday’s close, which was already a yearly low, to $72.01 a barrel. Spot gold was up 1.1 percent at $1,789.67 per ounce. Spot silver rose 2.9 percent to $22.81 per ounce. Platinum rose 1.8 percent to $1,006.33 per ounce, while palladium was 0.4 percent higher at $1,856.20.

In European Equity Markets stocks fell for a fourth straight session on Wednesday, with investors on edge as global recession fears grew, but losses were limited by gains in healthcare stocks. The region-wide STOXX 600 closed 0.6 percent lower, taking cues from Wall Street declines overnight after big U.S. banks cautioned of a likely recession next year. Healthcare shares rose 0.7 percent. Airbus fell 2.2 percent as the world’s largest planemaker abandoned a numerical forecast for jet deliveries and a date for its key production goal.

In Bond Markets U.S. Treasury yields from five-year notes to 30-year bonds fell to three-month lows on Wednesday in choppy trading, with few market drivers this week, as investors doubled down on bets that interest rates have likely peaked and inflation has moderated. In afternoon trading, the yield on 10-year notes was down 9.8 bps at 3.415 percent. U.S. 30-year bond yields slid 10.1 bps to 3.422 percent, after sinking to 3.412 percent, a three-month trough. On the shorter-end of the curve, the two-year U.S. Treasury yield fell 9.8 bps to 4.262 percent.