Global Markets Slide as Powell's Comments Weigh on Investor Sentiment

Asia-Pacific markets slide as U.S. Federal Reserve Chair Jerome Powell's comments on inflation and lower economic growth weigh on investor sentiment. Japan's inflation rate slows in September, while China keeps benchmark loan rates unchanged. Malaysia's inflation rate drops to its lowest level since March 2021. Indonesia raises interest rates to support its currency. The U.S. 10-year Treasury yield crosses 5% for the first time in 16 years. Additionally, technical analysts warn of potential selling pressure for six global stocks, and gold prices may pull back after a recent rally. Pharmaceutical stocks, including Pfizer and Moderna, hit fresh lows in the S&P 500.