Wall Street stocks tumbled as investors shed risky investments, worried the Fed might hike rates more this year to tame inflation
The region's combined net foreign selling during January to April stood at $45.76 billion, the most in the first four months since at least 2008.
China's shares defied the broader rally with rising COVID-19 cases and a strict lockdown in the financial hub of Shanghai weighing on sentiment.
Spot gold XAU= was up 0.9% at $1,898.06 per ounce, as of 0102 GMT, after rising 1% earlier in the session
U.S. central bank is not actively considering a 75 basis point increase, but that additional 50 basis point jumps should be on the table for the next couple of meetings: Jerome Powell
The Federal Reserve Bank of New York works within the Federal Reserve System to foster the safety, soundness and vitality of US economic and financial systems
While Mr Gross already had an admirable track record, the financial crisis of 2008 catapulted him into the league of legends
Money markets are betting the Fed will raise rates as high as 3.6% by end-2023 to tame inflation at 40-year highs.
On Thursday, the Bank of England is expected to raise rates for the fourth time in a row
Bullion is seen as a safe store of value during times of economic and political crises.
The Fed has taken an increasingly aggressive approach to monetary policy as it tackles inflation that is soaring at its fastest pace in 40 years
Investors keep a close eye on the U.S. central bank's Federal Open Market Committee's two-day meeting scheduled to begin on May 3.
All three major U.S. stock indexes reversed earlier gains as 10-year Treasury yield reached the 3% mark for the first time in more than three years.
After plunging over 600 points in intraday trade, the 30-share BSE Sensex recouped most losses to end 84.88 points or 0.15 per cent lower at 56,975.99
While the general consensus is of 6-7 rate hikes this year by the US Fed, there are some who expect lower rate hikes and a slowdown in the economy
Inflation is pushing central banks to shrink their balance sheets as they hike interest rates, adding a new risk for the world economy hit by war and lockdowns
The market is concerned that the Fed could be quite hawkish, pricing in a 50 basis point hike, and it could be 75 basis points in July, said Stephen Innes, managing partner at SPI Asset Management
The latest data from BMO Capital Markets show the largest overseas holder of Treasuries has offloaded almost $60 billion over the past three months
Excluding the volatile food and energy, the core PCE price index increased 5.2 per cent in March from a year ago, compared with 5.3 per cent in February, Xinhua news agency reported
This process, according to Wood, is already well underway with Netflix now down 69 per cent year-to-date (YTD)