Asian markets fell Monday to extend last week’s losses, with traders trying to assess the US Federal Reserve’s plans for interest rates, while the euro was weighed by political uncertainty as France prepared for a snap parliamentary election.
Tokyo, Shanghai, Sydney, Taipei, Bangkok, Seoul and Wellington all dropped. Hong Kong edged virtually unchanged.
While data showed US inflation slowed in May, providing fresh hope that the central bank will cut interest rates this year, optimism was tempered by policymakers’ paring of expectations for how many would be made.
Traders are now awaiting the release of a US retail sales report as well as inflation figures and central bank policy decisions in various countries over the next five days.
While the Nasdaq chalked up yet another record high, Wall Street provided a tepid lead with the S&P 500 and Dow both down.