Asian stocks to follow US drop before Powell speechAsian stocks were set to follow a selloff on Wall Street, with bond yields rising as traders comb through remarks from a slew of Federal Reserve officials and await Jerome Powell’s speech for clues on the interest-rate outlook.
Equity futures for Japan, Hong Kong and Australia pointed to declines after the S&P 500 almost wiped out its weekly advance, while losses in the Nasdaq 100 topped 2%. Treasury two-year yields, which are more sensitive to imminent policy moves, climbed above 5%. The greenback advanced against all of its G-10 peers on Thursday (Aug 24), with the Australian and New Zealand dollars falling the most in more than three weeks.