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International Business Times
International Business Times
Business
AFP News

Stocks Swing After Latest Selloff As Fed, Middle East Dampen Sentiment

Jerome Powell Middle East US Federal Reserve Inflation Asia Interest Rates
Jerome Powell's indication that the battle against inflation could take longer than expected weighed on hopes for interest rate cuts this year (Credit: AFP)

Asian markets fluctuated Wednesday as Federal Reserve boss Jerome Powell's indication that interest rates could stay higher for longer offset a rebound following the latest bout of Middle East-fuelled selling.

While traders are nervously awaiting Israel's next move after Iran's missile and drone attack at the weekend, the lack of an immediate response has seen them focus on the US central bank's monetary policy plans.

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