Posted 1/4/2024, 4:39:00 AM
Asian Stocks Slide, China Wages Drop as Fed Signals Ongoing Rate Hikes
- Stocks in Asia dropped, led by weakness in China, after Fed minutes indicated rates will stay high for longer
- A gauge for regional shares slid for a third day; China extended a two-day decline
- Attention turns to upcoming US jobs data on Friday after Fed minutes suggested restrictive rates could remain for some time
- Chinese stocks fell the most following a report showing wages for workers in major cities declined by the most on record
- Oil prices climbed on supply disruptions and an OPEC statement pledging to stabilize prices; Bitcoin erased 2023 gains