"Powell's Comments Send Asia Stocks Sliding, Dampening Rate Peak Expectations"

World stocks slipped and European shares retreated from three-week highs as U.S. Federal Reserve Chair Jerome Powell's hawkish comments dashed expectations of a peak in interest rates. The somber mood was global, with MSCI's broadest index of world shares falling to a one-week low. Powell's comments, along with a weak auction of 30-year Treasuries, pushed yields higher and supported the dollar. Investors have been looking for signs of U.S. interest rates peaking after the Fed held rates steady last week, but Powell's remarks indicated a willingness to tighten policy further if necessary.