Asian shares and U.S. futures tumbled on Tuesday after a tumultuous Wall Street session, with investors nervous about the situation in Ukraine and eyeing the U.S. Federal Reserve amid worries about a move to tighter monetary policy globally.
Keeping traders on their toes, the Federal Reserve will begin its two-day meeting later on Tuesday, with investors starting to speculate that there is a small possibility that they will announce a surprise rate hike.
However, U.S. benchmark Treasuries were sitting out some of the speculation. Yields on benchmark 10 year notes were at 1.76%, steady on the day, having finished a choppy day of trading Monday near where they started.read more The Aussie dollar gained briefly after the high inflation print, but failed to hold on to its gains and the risk friendly currency was still hovering near the one-month low hit the day before.