Forex
Asian Stocks Poised to Fall Amid Oil Price Surge and Inflation Fears
Asian stocks are poised to decline Thursday after tracking losses on Wall Street. The drop in Asian markets follows the S&P 500 Index's 0.5% fall, led by industrial and consumer-discretionary shares.
The Nasdaq 100 Index dropped 0.3%, with Nvidia Corp., Amazon.com Inc., and Alphabet Inc. declining. Contracts for US stocks were little changed in early Asian trading.
US oil extended its rally to an eighth straight session, reaching above $97 a barrel after Brent settled above $101 due to escalating Middle East tensions. This has added to expectations that the Federal Reserve may need to raise interest rates to contain inflation.