Asian shares trim losses, while dollar firms on Powell’s rate pain warning

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Reuters

By Andrew Galbraith SHANGHAI (Reuters) – Asian shares found some footing after a volatile session for U.S. equities, but the dollar remained at 20-year highs and global stocks near 18-month lows on worries about persistently high inflation and tightening central banks. Those worries ultimately overcame hopes on Wall Street that high inflation might be peaking, pushing the S&P 500 close to confirming a bear market on Thursday, at nearly 20% off its January all-time high. In an interview later in the day, U.S. Federal Reserve Chair Jerome Powell said that the battle to control inflation would “i…

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