Jitters in Asian markets over potential for US interest rate hike

04:19

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Asia Pacific

Jitters in Asian markets over potential for US interest rate hike

Asian markets are muddling through this morning, concerned by high inflation in Japan and the prospect of more interest rate hikes in the US. The US Federal Reserve is set to announce another potential increase in interest rates next week, and strong new jobs figures are making traders in Asia nervous that another hike is in the works. If that wasn't enough to worry about, China's economy is struggling to come back to pre-pandemic growth and Beijing's attempts at stimulating growth have so far come up short. Meanwhile, the Dow Jones Industrial Average extended its longest winning streak since 2017 off the back of strong earnings from drug maker Johnson and Johnson, but tech stocks fell after disappointing figures from Netflix and Tesla.