In Asian Equity Markets stocks fell on Wednesday as investors sought more clarity over a potential Russian missile strike on Poland, although expectations that the Federal Reserve will raise interest rates at a slower pace helped temper losses. Worries over a potential ratcheting up of geopolitical tensions spurred a decline of 1 percent in MSCI’s broadest index of Asia-Pacific shares outside Japan. Australian shares fell 0.4 percent, while Japan’s Nikkei stock index fell 0.1 percent. Hong Kong’s Hang Seng Index shed 1.1 percent and China’s CSI 300 fell 0.4 percent by the midday break.

In Currency Markets the safe-haven U.S. dollar’s early gains fizzled following volatile trading on Wednesday as traders took comfort from U.S. President Joe Biden’s remarks that a missile that caused a explosion in Poland may not have been fired from Russia. The euro was up 0.127 percent at $1.0377. Sterling was last trading at $1.1875, up 0.06 percent. The Japanese yen was about 0.3 percent weaker at 139.75 per dollar. Risk-sensitive Antipodean currencies recovered from earlier declines with Australian dollar last up 0.19 percent at $0.67685, while the kiwi was flat at $0.6158.

In US Equity Markets main indexes gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve. The Dow rose 0.17 percent, to 33,592.92, the S&P 500 gained 0.87 percent, to 3,991.73 and the Nasdaq Composite added 1.45 percent, to 11,358.41. Shares of Walmart Inc jumped 6.5 percent after the top U.S. retailer lifted its annual sales and profit forecasts, benefiting from a steady demand for groceries despite higher prices.

In Commodities Markets oil prices rose on Tuesday along with major stock indexes, after U.S. data signaled that inflation could be starting to subside, which would be a positive for oil demand. Brent crude futures rose 1.1 percent, to $94.16 a barrel. U.S. West Texas Intermediate crude rose 1.4 percent, to $87.05. Spot gold rose 0.3 percent to $1,776.64 per ounce. Among other precious metals, spot silver fell 1.8 percent to $21.56 per ounce, platinum fell 0.4 percent to $1,013.25 and palladium rose 2.9 percent to $2,085.52.

In European Equity Markets stocks closed higher on Tuesday, boosted by gains in technology and commodity stocks after softer-than-expected U.S. inflation data bolstered hopes of less-aggressive Federal Reserve interest rate hikes in the coming months. The continent-wide index rose 0.4 percent, logging its fourth-straight session of gains and erasing intraday losses after softer-than-expected U.S. producer prices data provided further evidence that inflation was starting to subside. Oil and gas firms and miners added more than 1 percent each.

In Bond Markets U.S. Treasury yields fell on Tuesday after data showed that inflation rose less than expected in October and as reports that Russian missiles hit Poland raised fears about greater geopolitical risks in the region. Benchmark 10-year yields hit almost six-week lows after U.S. producer prices increased at an annual rate of 8.0 percent, missing economists expectations of an 8.3 percent rise. Two-year yields fell as low as 4.321 percent and were last at 4.364 percent.