(Jerome Favre/EPA-EFE/REX/Shutterstock)Markets in Asia opened mixed on Friday after another bruising trading session in the United States, as fears deepened that the multiyear bull-market run on Wall Street may be running out of steam with interest rates rising. The Japanese Nikkei and Shanghai Composite Index both opened slightly lower — by less than 1 percent — as did Australia. The tepid open in Asia came after the Dow Jones Industrial Average closed down 546 points, or 2.1 percent, on Thursday. The Dow has tumbled 5 percent in the last two days on the prospect that U.S. interest rates will gradually rise in response to strong economic growth and inflation numbers. “We have two main head winds: the trade war with China and rising interest rates,” Mike O’Rourke, chief market strategist at JonesTrading, told Reuters.
Source: Washington Post October 12, 2018 03:07 UTC