In Asian Equity Markets stocks followed Wall Street lower and crude oil stayed weak on Thursday as investors weighed the risks of global recession amid hawkish Federal Reserve rhetoric and uncertainty about the Bank of England’s commitment to stabilising markets. Japan’s Nikkei fell 0.48 percent, while South Korea’s Kospi slid 1.15 percent. Hong Kong’s Hang Seng fell 1 percent, and mainland Chinese blue chips lost 0.28 percent. MSCI’s broadest index of Asia-Pacific shares lost 0.57 percent, languishing close to Wednesday’s 2 1/2-year low.

In Currency Markets the yen languished near a fresh 24-year low on Thursday, while sterling pared some overnight gains as investors nervously awaited an impending deadline for the end of the Bank of England’s emergency bond-buying programme. The yen hit a trough of 146.98 per dollar overnight and last traded at 146.87. Sterling eased 0.13 percent to $1.10845. The euro gained 0.02 percent to $0.97035. The Aussie was up 0.02 percent at $0.6279, while the kiwi gained 0.10 percent to $0.5613. The U.S. dollar index firmed to 113.29.

In US Equity Markets stocks ended a choppy session slightly lower on Wednesday after minutes from the last Federal Reserve meeting showed policymakers agreed they needed to maintain a more restrictive policy stance. The Dow fell 0.1 percent, to 29,210.85, the S&P 500 lost 0.33 percent, to 3,577.03 and the Nasdaq Composite fell 0.09 percent, to 10,417.10. Among gainers, PepsiCo Inc rose 4.2 percent after the soft-drinks maker raised its annual revenue and profit forecasts on firm demand for its sodas and snacks despite multiple price increases.

In Commodities Markets oil prices fell for a third straight session on Wednesday as investors fretted about a hit to fuel demand from growing risks of a global recession and tightening COVID-19 curbs in China. Brent crude futures fell 0.5 percent, to $93.78 a barrel. U.S. West Texas Intermediate crude was at $88.66 a barrel, down 0.8 percent. Spot gold rose 0.5 percent to $1,673.59 per ounce. Spot silver fell 0.8 percent to $19.03 per ounce, platinum firmed 0.2 percent to $886.94, and palladium edged 0.2 percent higher to $2,144.68.

In European Equity Markets stocks fell on Wednesday as nerves about rising prices and rising interest rates were aggravated by inflation data from the United States, while mixed earnings reports kept investors on edge about the outlook for corporate profits. The pan-European STOXX 600 index closed down 0.5 percent, falling for a sixth straight session. London’s blue-chip FTSE 100 index was down 0.9 percent. Barratt Developments, Britain’s largest housebuilder, warned of a fall in annual profit on Wednesday, sparking a selloff in the sector.

In Bond Markets the sell-off in Treasuries eased on Wednesday, but data showing U.S. producer prices rose more than expected in September suggest inflation will remain high and keep the Federal Reserve on track to aggressively hike interest rates. The two-year Treasury yield, which typically moves in step with interest rate expectations, fell 2.1 basis points to 4.295 percent, while the 10-year’s yield slid 2.4 basis points to 3.915 percent. The yield on the 30-year Treasury bond was down 0.7 basis points to 3.895 percent.