US and European equity futures slipped, and bonds rose Wednesday on growth concerns ahead of a US inflation report.
The yen gained after a Bank of Japan official signaled more interest rate increases. A gauge for Asian equities fell for a third session, with benchmarks in Japan and Hong Kong leading declines.
Futures for US stocks were down 0.6%. Worries over slowing growth in major economies resurfaced as oil steadied below $70 and global bond yields slid to a two-year low this week in the run-up to the US consumer price index later Wednesday and the Federal Reserve policy meeting next week.
Investor sentiment is still being driven by the bleak outlook for the Chinese economy and worries that the Federal Reserve has waited too long to ease monetary policy.
Traders are leaning toward at least one super-sized rate cut this year ahead of the CPI report that’s expected to show another month of muted increases.
