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Asian markets track Wall St down as recession worries return

wall street

Hong Kong: Asian markets fell again Friday after forecast-beating US data fuelled expectations that the Federal Reserve will lift interest rates well into next year. A glum warning from top chipmaker Micron and worries about China’s surging Covid cases added to the less-than-Christmassy mood on trading floors.Investors have been on a rollercoaster ride this month with slowing inflation and an easing of monetary policy hikes offset by central bank warnings that borrowing costs will likely have to go higher than expected.