In Asian Equity Markets Japan’s Nikkei share average gave up most of its morning gains during the afternoon session to close below the key 27,000 level on Monday, as investors fretted about the outlook for China’s economy. Japan’s stock benchmark ended the day up 0.31 percent at 26,974.90. The broader Topix rose 0.28 percent to 1,887.19. China’s bluechip CSI300 index lost 2.3 percent, while the Shanghai Composite Index lost 1.4 percent. The Hang Seng index lost 5 percent in early afternoon trade, touching levels last seen during the 2008-2009 global financial crisis.

In Currency Markets the U.S. dollar edged higher in early European trading Monday, absorbing suspected intervention by the Bank of Japan, while sterling pushed higher as former finance minister Rishi Sunak looked likely to become Britain’s prime minister. The Dollar Index rose 0.1 percent to 112.123. Euro fell 0.2 percent to $0.9843 ahead of Thursday’s ECB policy-setting meeting, which is expected to result in another 75 basis points hike as the central bank seeks to curb rampant inflation. The Aussie fell 0.9 percent to $0.6322, while kiwi fell 0.3 percent to $0.5731.

In US Equity Markets stocks rose to close out the trading week on Friday after a report said the U.S. Federal Reserve will likely debate on a smaller interest rate hike in December, raising hopes the central bank may be poised to adopt a less aggressive policy stance. The Dow rose 2.47 percent, to 31,082.56, the S&P 500 gained 2.37 percent, to 3,752.75 and the Nasdaq Composite added 2.31 percent, to 10,859.72. Schlumberger shot up 10.33 percent to help to lift the S&P 500 energy sector 2.76 percent after reporting a quarterly profit above expectations.

In Commodities Markets oil prices settled up on Friday as hopes of stronger Chinese demand and a weakening U.S. dollar outweighed concern about a global economic downturn and the impact of interest rate rises on fuel use. Brent crude settled at $93.50 a barrel, up 1.2 percent. U.S. West Texas Intermediate crude (WTI) settled at$85.05 a barrel, up 54 cents, 0.6 percent. Spot gold was up 1.5 percent at $1,652.21 per ounce. Elsewhere, spot silver rose 2.7 percent to $19.16 per ounce, platinum gained 1.9 percent to $931.00 while palladium fell 1.8 percent to $2,020.34.

In European Equity Markets stocks fell on Friday as concerns grew that major global central banks would retain their aggressive stance on inflation, with dismal earnings updates from a slew of companies including Adidas adding to worries about a recession. The region-wide STOXX 600 ended 0.6 percent lower, after closing higher on Thursday following the resignation of Liz Truss as British prime minister. Adidas fell 9.5 percent as the German sporting goods maker cut its full-year outlook, citing weaker demand. Rival company Puma followed it down with a decline of 7.3 percent.

In Bond Markets yields on 10-year U.S. government bonds rose to their highest level since late 2007 on Friday, as Federal Reserve officials kept up their tough rhetoric on inflation. The 10-year Treasury yield hit 4.291 percent, a level last seen in December 2007. The yield was last up 5 basis points (bps) at 4.274 percent. The 2-year Treasury yield was last down 1 bp at 4.605 percent, after hitting a 15-year high of 4.639 percent earlier in the session. The yield on the 20-year Treasury was up 7 bps at 4.555 percent.