Dow Jones futures were little changed late Monday after tech stocks sold off sharply. Zoom earnings beat estimates after the close. Read More...
Reuters
Asia stocks down, dollar holds firm after Powell’s renomination
Asia stocks were mostly lower on Tuesday, tracking a retreat on Wall Street after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the central bank for a second term, reinforcing expectations the U.S. will taper its stimulus soon. MSCI’s gauge of Asia Pacific stocks outside Japan fell 0.49%, while Hong Kong’s Hang Seng Index and China’s benchmark CSI300 Index opened 1.1% and 0.2% lower, respectively. Overnight on Wall Street, the S&P 500 and Nasdaq Composite retreated from all-time highs after President Biden tapped Powell to continue as Fed chair, and Lael Brainard, the other top candidate for the job, as vice chair.
