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Highlights
The ASX 200 is expected to trade lower on Wednesday.
On Tuesday, the benchmark index closed 0.4% higher at 6,496.2 points.
On Wall Street, the Dow Jones fell 0.4%, the S&P 500 dipped 0.2%, and the NASDAQ ended 0.25% higher.
After closing higher on Tuesday, the ASX 200 is expected to trade lower on Wednesday following a mixed overnight closing on Wall Street. The global sentiment weakened as US Federal Reserve policymakers showed appetite for further interest rate hikes triggering concerns about a looming recession.
The latest SPI futures indicate that the ASX 200 would open 42 points or 0.65% lower on Wednesday. On Tuesday, the benchmark index closed 0.4% higher at 6,496.2 points.
On Wall Street, the Dow Jones fell 0.4%, the S&P 500 dipped 0.2%, and the NASDAQ ended 0.25% higher.
In Europe, the Stoxx 50 fell 0.4%, the FTSE dipped 0.5%, the CAC dropped 0.3%, and the DAX ended 0.7% lower.
On the other hand, the MSCI world equity index fell nearly about 0.3%. MSCI's broadest index of Asia shares outside Japan was flat on the day.
Bond yields
The benchmark US 10-year Treasury yields hit their highest in over 12 years as investors braced for higher interest rates. US 10-year yields hit 3.992%, the highest since 5 April 2010. It was last up 8.3 basis points to 3.964%.
Oil prices rally
After falling to a nine-month low in the last session, the oil prices rose on marginally weaker US dollar and buoyed by supply curbs in the US Gulf of Mexico ahead of Hurricane Ian.
- Brent crude closed 2.6% higher at US$86.27 a barrel.
- WTI crude closed at US$78.50, up 2.3%.
Gold prices rise
Gold prices rose after a pause in the US dollar's rally helped restore greenback-priced bullion's allure.
- Gold rose around 0.3% to US$1,626 an ounce.
Iron ore prices inch higher
On Tuesday, iron ore futures rose with Singapore prices rebounding after two straight sessions of losses.
On China's Dalian Commodity Exchange, the most-active January iron ore contract closed 1.1% higher at 718.50 yuan (US$100.36) a tonne.
Meanwhile, bitcoin briefly broke above US$20,000 for the first time in about a week, as cryptocurrencies bounced.