HONG KONG – Asian markets took another blow Friday after Federal Reserve boss Jerome Powell failed to soothe fears of a surge in inflation fuelled by the expected global economic recovery, which many warn could force the central bank to hike interest rates earlier than thought.
While the rollout of vaccines, slowing infections, easing of lockdowns and an imminent new stimulus are breathing life back into economies, investors are increasingly worried ultra-loose monetary policies — a key pillar of a year-long equity surge — will be wound down to deal with an expected spike in prices.
That has led to a sharp sell-off across world markets with t…
Keep on reading: Asia markets track Wall St plunge as rate hike fears grow