Stocks set to dip, treasuries up amid growth worry: markets wrap
Asian stocks look set to follow U.S. shares lower Friday after concerns about the economic growth outlook came to the fore. Treasury yields retreated and the dollar held an advance.
Federal Reserve Chair Jerome Powell overnight defended the central bank’s accommodative stance in the face of uncomfortably high inflation. Officials expect a transient surge in price pressures amid the reopening from the pandemic, but some others fear stickier inflation that could hurt the economic outlook.
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