|Day's Range||10,453.50 - 10,520.62|
|52 Week Range||9,319.28 - 11,261.68|
Investors in Asia are catching their breath. Korea’s Kospi Index also retreated as Seoul returned from a Monday holiday. U.S. Trade Representative Robert Lighthizer said the U.S. plans to raise tariffs on Chinese goods on Friday, confirming Trump’s tweet threats.
Some surprising comments from Federal Reserve Chairman Jerome Powell Wednesday sent U.S. stocks tumbling and the dollar higher, noting “transitory” factors may be responsible for persistent weak inflation and throwing cold water on hopes of an imminent interest-rate cut. The market “wants the Fed to recognize that inflation is low and consider cutting rates later this year, but when they say low inflation is transitory that sounds like they are in no hurry to cut rates and were maybe even thinking that if it bumps up we might talk about raising rates and I think that’s why the market had a bad reaction,” Jim Bianco, president of Bianco Research, said on Bloomberg TV. Asia was largely unfazed.