HONG KONG (AFP): Asian markets suffered fresh losses Wednesday (Feb 24) as concerns about rising inflation and frothy equity prices continued to sap confidence, with investors unmoved by reassurances from Federal Reserve boss Jerome Powell that officials would maintain record-low interest rates for as long as needed.
Global stock indexes have cruised to all-time or multi-year highs in recent months thanks to government and central bank backing, the rollout of vaccines, easing of lockdowns, Joe Biden's imminent stimulus and falling infection rates.
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