Ahead of the reading of the United States (US) NFP employment data tonight, the equity market continues to be pressured by various pressures to end the trading session with selling activities.
Most recently, Federal Reserve (Fed) officials continued to be hawkish with one of them giving the impression that a 125 basis point increase in interest rates is necessary if inflation does not decrease by the end of the year.
The streak also led some analysts to say that the Fed's direction is clearly aimed at recession as it focuses on easing the surge in inflation.
Based on the sentiment of concern, Wall Street equities were seen ending trading on the sell side with the S&P 500 index down 22% from its peak on January 3.
Looking at the Wall Street chart, the Dow Jones Industrial index fell 1.15% while the S&P 500 lost 1.02% and the Nasdaq Composite lost 0.68%.
MSCI's index of world equities that tracks a total of 45 other stocks fell 0.85% while MSCI's broadest gauge of Asia Pacific shares outside Japan fell 0.41%.
In Asia, Japan's Nikkei 225 fell 1.35% with the Topix down 1.29% while South Korea's Kospi fell 0.8% and the Kosdaq plunged 0.93%.
Opposing the equity movements were the greenback and Treasury yields which saw strengthening during the trading session.
The dollar index, which measures a number of other currencies, was up 0.99% at 112.177 while the 10-year Treasury note was up 6.3 basis points at 3.812%.
In the meantime, commodities also experienced an increase especially after oil production will be limited by OPEC.
On those factors, Brent futures rose 1.1% at $94.42 while US crude was up 0.8% at $88.45.
