Welcome to the Mint live blog. Track this space for latest stock market updates. Asian stocks retreated after Federal Reserve Chair Jerome Powell warned about economic risks and big-name investors fuelled doubts about valuations.
Japan’s Topix index declined 0.7%. Hong Kong’s Hang Seng Index slid 1.3%. The Shanghai Composite fell 0.5%. South Korea’s Kospi index retreated 1.2%.
Australia’s S&P/ASX 200 Index lost 1.1%. Singapore's SGX Nifty was down 1.5%, suggesting a weak start for Indian equities.
Wall Street's three major indexes closed lower for the second day in a row after Federal Reserve Chairman Jerome Powell warned on Wednesday of extended economic weakness due to the coronavirus pandemic and called for Congress to agree on