HONG KONG: Most Asian markets resumed their downward trend on Wednesday, with traders fearing that the Federal Reserve's (Fed) determination to beat skyrocketing inflation with higher interest rates would tip the world's top economy into a recession.
After bouncing from their June lows, global equities are again taking a beating from worried investors after Fed Chairman Jerome Powell warned last week that the United States central bank would need to tighten policy much more to succeed in its battle against prices.
People wearing face masks stand in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm in the capital Tokyo on Wednesday, Aug. 31, 2022. AP PHOTO