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Federal Reserve chair Jerome Powell warned on Wednesday that persistent trade tensions could complicate the central bank’s objectives of controlling inflation and sustaining employment, prompting a risk-off mood in the US market. “Asian markets saw a slight uptick, while the yen weakened as investors responded positively to the initial round of trade talks between the US and Japan,” said TickMill market strategy partner Patrick Munnelly. “Japanese stocks posted modest gains after President Donald Trump announced significant progress in discussions aimed at preventing higher tariffs on Japan. “The yen depreciated following...

Cryptocurrencies sold off sharply heading into the week in Asia, underscoring a clear risk-off sentiment across markets.Bitcoin shed about 7% of its value from Sunday night through to Monday morning in Singapore to reach a low point of $77,077. Second-ranked token Ether plummeted to $1,538, an intra-day low not seen since Oct. 2023. Both Bitcoin and Ether later pared losses. The slide comes as US president Donald Trump dug in on sweeping tariffs that have already wiped trillions in value from US equities. US equity-index futures slumped and the Yen...