Caution grips Asian shares as Fed events loom large

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Asian shares fell on Wednesday as fresh worries about a global recession led investors to dump risky assets, with U.S. President Donald Trump ...

SYDNEY: Asian shares flatlined on Wednesday as worries about global recession and endless trade wars wrestled with hopes for more monetary and fiscal stimulus to keep growth going.

"Acknowledgment that downside risks have increased with no characterization of 'somewhat' could be taken as confirmation that it is likely the Fed makes a larger cut in September," Zentner wrote in a note. Political turmoil in Hong Kong, Britain and Italy has also heightened uncertainties for investors. The prospect of new elections in Italy after the resignation of Prime Minister Giuseppe Conte added to jitters, sending Italian sovereign bond yields sliding.

That was enough to prompt Trump and his advisers to examine ways to provide a fiscal boost to the U.S. economy, should it be deemed necessary.

 

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