In Asian Equity Markets stocks attempted a comeback from big early losses on Wednesday, although most major markets were still in the red as investors worried about further aggressive monetary tightening following blowout U.S. labour data. Japan’s Nikkei sagged 0.52 percent and Chinese blue chips retreated 0.59 percent. Hong Kong’s Hang Seng recovered from steep early declines to be down 0.39 percent. However, MSCI’s broadest index of Asia-Pacific stocks was flat.

In Currency Markets the dollar was firm on Wednesday as stronger-than-expected U.S. economic data and hawkish Federal Reserve comments pointed to higher interest rates, while rate-hike bets in Europe also have the common currency clinging on above parity. The euro rose 0.16 percent to $1.0032 in the Asia trade, which if sustained would make for a third session of gains in a row, though it is still nearly 2 percent down for the month. Meanwhile, sterling gained 0.21 percent to $1.1679, after hitting a fresh 2-1/2-year low of $1.1622 overnight. The sliding yen steadied at 138.61 per dollar.

In US Equity Markets main indexes fell for the third straight session on Tuesday as a sharp rise in job openings added to worries about the U.S. Federal Reserve’s aggressive approach to bring down inflation. The Dow was down 0.81 percent, at 31,839.72, the S&P 500 was down 1.00 percent, at 3,990.17, and the Nasdaq Composite was down 1.21 percent, at 11,871.94. Best Buy Co rose 2.6 percent after it reported a smaller-than-expected decline in quarterly comparable sales as steep discounts helped soften the blow to electronics demand from rampant inflation.

In Commodities Markets oil prices fell on Tuesday, the steepest decline in about a month, on fears that fuel demand could soften as global central banks hike rates to fight rising inflation, and as unrest in Iraq failed to dent the OPEC nation’s crude exports. Brent crude futures for October settled down 5.5 percent, at $99.31 a barrel after touching a session low of $97.55 a barrel. U.S. WTI crude fell by 5.5 percent, to $91.64. Spot gold fell 0.8 percent to $1,723.65 per ounce. Spot silver fell 1.9 percent to $18.39 per ounce and platinum also fell 1.9 percent to $847.50. Palladium declined 2.9 percent to $2,084.69.

In European Equity Markets stocks ended lower on Tuesday, failing to shrug off fears of higher interest rates amid a burgeoning energy crisis and looming recession. After rising as much as 1 percent, the pan-European STOXX 600 index erased all gains by the end of the session to fall 0.7 percent. The DAX edged 0.5 percent higher to move away from six-week lows. Meanwhile, Spain’s IBEX fell 0.1 percent. Spanish national consumer prices rose 10.4 percent year-on-year in August, down from 10.8 percent the previous month, preliminary data showed.

In Bond Markets U.S. Treasury yields edged higher on Tuesday, reversing an early morning rally after a sharp rise in job openings added to investor worries about the Federal Reserve’s aggressive monetary tightening measures. Benchmark 10-year Treasury yields were at 3.108 percent, the highest since the end of June, while two-year note yields climbed to 3.466 percent, hitting a new 15-year high. The closely watched yield curve measured by the gap between two- and 10-year yields remained strongly inverted at minus 36 basis points.