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Market Review

US:

U.S. stocks fell on Tuesday, adding to the biggest selloff in months, as investors worried about the impact of the latest tariff threats on the global economy.

Asia:

Stocks in the Asia Pacific region were mixed and traded in a tight range on Wednesday, after US President Donald Trump downplayed fears of a recession, helping US stocks post a lateday recovery amid a volatile session.

India:

India's benchmark equity indices pared early losses to end Tuesday's session mixed as ICICI Bank Ltd. and Bharti Airtel Ltd. led the recovery. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

The U.S. Department of Education said it would lay off nearly half its staff, a possible precursor to closing altogether, as govt agencies scrambled to meet Trump’s deadline to submit plans for a second round of mass layoffs. The terminations are part of the department’s final mission, it said in a press release, alluding to Trump’s vow to eliminate the department, which oversees $1.6 tn in college loans, enforces civil rights laws in schools and provides federal funding for needy districts. Bank of Japan Governor Kazuo Ueda refrained from issuing a fresh warning against recent rises in bond yields, saying they were a natural reflection of market expectations of future interest rate hikes by the central bank. Long-term int rates move on various factors. But the biggest determinant is the market’s forecast on the outlook for our short-term policy rate. Ueda said he saw no big divergence between the BOJ’s view and that of markets, when asked about the recent steady rise in bond yields.

Commodities:

Oil prices edged up early on Wednesday, helped by a weaker dollar, but mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth capped gains. Gold eased on Wednesday on a possible ceasefire deal in Ukraine, while investors braced for a key U.S. inflation data later in the day to gauge the Federal Reserve's interest rate path amid trade tensions and economic slowdown fears.

Currency:

The dollar languished near a five-month low versus major peers on Wednesday, as worries about the U.S. economy continued to simmer under President Donald Trump's unpredictable trade policies.

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