Asia-Pacific markets poised for a tumble as Powell hints higher rate hikes

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Asia-Pacific markets poised for a tumble as Powell hints higher rate hikes
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Asia-Pacific shares are set for a tumble on Wednesday after Jerome Powell cautioned that interest rates may need to be higher than the central bank expected.

Storm clouds are seen over the city skyline on October 01, 2021 in Sydney, Australia.Asia-Pacific shares are headed for a tumble on Wednesday after Federal Reserve Chairman Jerome Powell cautioned that interest rates may need to be higher than the central bank expected, fueling concerns of a potentially larger hike at the next policy meeting.was down 0.67%.

The 2-year yield jumped to its highest since 2007 after Federal Reserve Chairman Jerome Powell said the central bank may need to increase the pace of interest rate hikes again.The yield curve inversion is a phenomenon that for half a century has accurately signaled coming recessions.

"If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," Powell also said. A U.S.-listed ETF is only investing in companies that are led by women, with the belief that the "female factor" outperforms.

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