U.S. stocks and Treasuries slid while the dollar rallied as Federal Reserve Chairman Ben S. Bernanke said the central bank may reduce the pace of asset purchases later this year as economic risks subside. Japanese stock futures retreated and Australia’s currency tumbled.
Asian equity futures rose, indicating shares from Japan to Australia may follow U.S. stocks higher, on prospects the Federal Reserve will signal the fate of monetary stimulus after its meeting today. The yen held declines, while natural gas and gasoline gained.
Emerging-market stocks rose a second day, led by Russian shares, as investors awaited this week’s Federal Reserve policy meeting. Turkey’s lira slumped after riot police stepped up their crackdown on protesters.
Japanese shares rose, with the Topix index rebounding from four weeks of losses, amid lower volume ahead of tomorrow’s Federal Reserve policy meeting. The yen weakened from its strongest against the dollar in two months.
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Stocks tumbled, sending U.S. benchmark indexes to one-month lows, while Treasuries rallied as investors weighed weaker-than-forecast employment growth and prospects for Federal Reserve stimulus plans. The yen strengthened and shares plunged in Japan.
Federal Reserve Bank of Atlanta President Dennis Lockhart said Fed officials are committed to record stimulus even as divergent views on when to start paring back bond purchases create a “mixed message” to investors.