Stock market today: Asian markets retreat after data dash hopes that a US rate cut is imminent

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Asian markets have retreated after a mixed batch of data on the U.S. economy dashed hopes that easier interest rates are coming soon.

BusinessFILE - People stand in front of an electronic stock board showing Japan's stock prices at a securities firm Monday, Feb. 26, 2024, in Tokyo. Asian markets retreated Friday, March 15, with Hong Kongs benchmark falling nearly 2%, after a mixed batch of data on the U.S. economy dashed hopes that easier interest rates are coming soon.– Asian markets retreated Friday, with Hong Kong’s benchmark falling nearly 2%, after a mixed batch of data on the U.S.

Fed officials will give their latest forecasts for where they see interest rates heading this year on Wednesday, following their latest policy meeting.last month than economists expected. Such data drags on the overall economy but could also remove upward pressure on inflation. On Wall Street, Dollar General swung sharply despite reporting stronger profit and revenue for the latest quarter than expected. Its stock fell 5.1% after being up more than 6% earlier.

Robinhood Markets gained 5.2% as near-record stock and crypto prices drove strong growth in trading activity among its customers last month.announced in December that it planned to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security.

Source: News Formal (newsformal.com)

 

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