Fresh Fed worries end stocks' rally

By Agence France-Presse

Dec 07, 2022 12:21 am

HONG KONG: Most Asian and European markets retreated on Tuesday and the dollar jumped as fresh fears that the Federal Reserve (Fed) would push interest rates higher than hoped overshadowed growing optimism over China's economic reopening.

After a strong start to the week in Asia, traders tracked a big drop on Wall Street that came on the back of data showing a forecast-busting jump in activity in the United States services sector last month.

A currency trader passes by screens showing foreign exchange (forex) rates at a bank’s forex dealing room in South Korea’s capital Seoul on Tuesday, Dec. 6, 2022. AP PHOTO

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