SINGAPORE: Asian stocks fell on Wednesday, with a robust dollar keeping the yen, yuan and the euro pinned near multi-month lows as traders wagered the Fed will likely be slow in cutting rates after data showed the U.S. economy remained stable.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5%, with Japan's Nikkei down 0.1%. On Wall Street, all three main indexes finished lower as the data stoked worries of a rebound in inflation.
The downbeat mood is set to continue in Europe, with Eurostoxx 50 futures down 0.3% and German DAX futures 0.18% softer.
Rising bond yields will likely weigh on tech stocks in Europe as well after they touched a more than five-month high on Tuesday.
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