- Japan, Australia shares fall, China equity futures decline
- Bitcoin plunges below $16,000 as FTX.com woes intensify
Asian stocks weakened after US shares fell and fear swept through cryptocurrencies, denting risk appetite ahead of crucial inflation data due later Thursday.
Shares in Japan and Australia fell, while equity futures in China declined. The S&P 500 slumped, ending a three-day advance. Earnings from Walt Disney Co. and News Corp. disappointed. The dollar held gains from Wednesday and bond yields fell in Australia and New Zealand, following Treasuries.
Bitcoin tumbled by the biggest margin since March 2020 Wednesday to dip below $16000 after Binance scrapped plans to acquire embattled exchange FTX.com, which may face bankruptcy. The action pressured shares in Asian companies related to cryptocurrencies after their US peers fell sharply.
Oil traded flat after its worst day in nearly a month as US stockpiles grew and Covid outbreaks in China threatened growth.
Key events this week:
- US CPI, US initial jobless claims, Thursday
- Fed officials Lorie Logan, Esther George, Loretta Mester speak at events, Thursday
- US University of Michigan consumer sentiment, Friday