Asian Markets Fall on China Worries; Fed Rate Cut Bets Ease
• Chinese shares led declines in most Asian markets following mixed economic data from China • Investors trimmed bets on Federal Reserve interest rate cuts after comments from Fed Governor Christopher Waller • China reached its 2023 GDP growth target but the housing slump has worsened and domestic demand remains weak • Oil prices declined on a stronger US dollar and broader risk-off tone, despite Middle East tensions • US stock futures slid, Treasuries were steady, and the dollar gained amid recalibration of Fed rate cut expectations