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The Economic Times
The Economic Times

Global Market Today: Asian stocks drop on hawkish Warsh tone, oil gains

Kevin Warsh Oil US Federal Reserve Artificial Intelligence United States

Asian stocks dropped and the dollar held its gains after hawkish comments from Federal Reserve Chair Kevin Warsh strengthened bets on an interest-rate hike next month. Oil climbed as Middle East tensions intensified.

MSCI’s Asia Pacific equities gauge fell 0.8%. Technology shares led declines, with the Kospi Index — a barometer for artificial intelligence investments — dropping over 3%.

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