Fed Chair Jerome Powell on Wednesday issued his sober review of an economy slammed by a record pace of job losses Asian equities were set to slump on Thursday after the head of the Federal Reserve warned of a "significantly worse" U.S.
recession than any downturn since World War Two because of coronavirus pandemic fallout, sentiments that drove bonds higher on a safety bid.
Fed Chair Jerome Powell on Wednesday issued his sober review of an economy slammed by a record pace of job losses and bracing for worse ahead as most U.S.
states moved toward reopening following lockdowns aimed at curbing the spread of the virus. Hong Kong's Hang Seng index futures <.HSI> <.HSIc1> slipped 0.92%, Australian S&P/ASX 200 futures fell 1.07%, while Japan's
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