Asian Shares Retreat On Inflation, Interest Rate Concerns

India, Sept. 2 -- Asian stocks fell sharply on Wednesday as escalating U.S.-Iran tensions pushed oil prices and global bond yields higher.

The U.S. dollar was steady near a two-week high, while gold prices fell toward $4,300 an ounce after Federal Reserve Governor Michael Barr said in a speech that he would back a rate hike if inflation doesn't cool quickly.

According to the CME FedWatch Tool, the chance of a quarter-point rate hike at the Fed's September 15-16 meeting now stands at 68.2 percent.

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Published by HT Digital Content Services with permission from RTT News....