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Global Markets Weighing Rate Hikes and Geopolitics
Description
Asian markets dipped today as Hong Kong and Shanghai paused for the Dragon Boat Festival, while Tokyo’s Nikkei held steady, South Korea’s Kospi and Australia’s ASX 200 fell, and India’s Sensex also slid. Wall Street’s mixed performance yesterday—led by tech gains like Intel’s rally after a chip deal—was offset by SpaceX’s continued slump. Hope for a U.S.-Iran deal to ease oil tensions is fading as talks stall, adding to investor unease amid looming Fed rate hikes. The Bank of Japan’s surprise 1% rate hike—its first in 30 years—signals a pivot toward fighting inflation, potentially influencing global central banks. Tech optimism and oil hopes are battling a cautious, inflation-driven global market.
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