In Asian Equity Markets a global stocks sell-off extended on Wednesday, as growing fears about the global economy forced investors to dump riskier assets in favour of safe havens such as the U.S. dollar and government bonds. The MSCI’s broadest index of Asia-Pacific shares outside Japan down 1.1 percent. Tokyo’s Nikkei and Seoul’s KOSPI index were also down sharply by 1.8 percent and 1.19 percent respectively. Chinese blue chips were flat after falling to their lowest in two years on Tuesday and the Hong Kong benchmark fell 0.72 percent. Australian shares were also down 0.73 percent.

In Currency Markets the dollar stood at its highest level since the early days of the pandemic on Wednesday and was heading for its best month since 2015, supported by the prospect of U.S. rate hikes and on safe-haven flows fanned by slowing growth in China and Europe. The U.S. dollar index edged up to 102.39 in the Asia session, the strongest it has been since March 2020. The Aussie rose as much as 0.6 percent to $0.7171. The yen last traded about 0.3 percent lower at 127.60 per dollar. Sterling hit a fresh 21-month low of $1.2560 on Wednesday.

In US Equity Markets stocks ended sharply lower on Tuesday, led by the Nasdaq as investors worried about slowing global growth and a more aggressive Federal Reserve, and with Alphabet and Microsoft falling ahead of their quarterly reports to be released after the bell. The S&P 500 lost 2.80 percent, to end at 4,176.03 points, while the Nasdaq Composite lost 3.93 percent, to 12,493.71. The Dow fell 2.38 percent, to 33,240.71. General Electric Co decreased after forecasting full-year earnings at the low end of its previous estimate.

In Commodities Markets oil prices settled higher on Tuesday, rebounding in volatile trading as the market weighed China’s plans to support its economy against a possible coronavirus lockdown in its capital Beijing. Brent crude futures settled up 2.6 percent, at $104.99 a barrel, while U.S. West Texas Intermediate contracts were up 3.2 percent, at $101.70. Spot gold rose 0.4 percent to $1,904.36 per ounce. Palladium, used primarily in vehicle exhausts to curb emissions, rose 1.4 percent to $2,174.08 per ounce. Silver fell 0.3 percent to $23.53 per ounce and platinum fell nearly 1 percent to $911.81.

In European Equity Markets stocks extended losses for a third session on Tuesday, giving up earlier gains as technology stocks followed U.S. peers into the red ahead of earnings from some big names, while London’s FTSE outperformed on a commodities boost. The pan-Europe STOXX 600 index closed lower, with technology stocks down 2.3 percent at six-week lows and banks falling 2.3 percent. Miners rose 1.1 percent, while energy stocks gained 0.9 percent. This kept the FTSE 100 buoyed amid a continued rout for Germany’s DAX and Spain’s IBEX which lost more than 1 percent.

In Bond Markets Treasury yields fell on Tuesday as uncertainties surrounding the war in Ukraine and the Federal Reserve’s efforts to bring down inflation kept investors cautious about the future despite better-than-exepected economic data. The yield on benchmark 10-year Treasury notes slid 8.4 basis points to 2.743 percent, while yields on three-month bills to 30-year bonds were all lower in early U.S. trade. The yield on the 30-year Treasury bond was down 5.1 basis points to 2.844 percent. The two-year U.S. Treasury yield was down 10.3 basis points at 2.528 percent.