(Bloomberg) European equity futures and Asian shares slipped as concerns persisted over the path of global monetary policy and the health of US banks. New Zealand’s dollar rallied and the nation’s stocks retreated after the central bank raised interest rates by more than expected. Stocks in Europe may struggle for traction at open as Euro Stoxx 50 contracts dropped about 0.2%. Investors in the region were are awaiting the release of March purchasing manager index data for trading cues. MSCI Inc.’s Asia benchmark was set to end a six-day winning streak, with almost all sectors in the red Wednesday. Futures for US equities were little changed after posting small gains earlier. The S&P 500 had dropped on Tuesday, dragged down by shares of financial heavyweights. Chinese markets are closed for a holiday. A measure of greenback strength was steady and most major currencies traded in narrow ranges. The New Zealand dollar jumped to the highest level since mid-February following the un
Traders are steeling themselves for the risk of more turbulence after the biggest U.S. bank collapse since the 2008 financial crisis sent shockwaves through markets.
The Federal Reserve raised its key interest rate by three-quarters of a point Wednesday the largest bump since 1994 as it tries to chill the U.S. economy without causing a recession.