Global Markets React to Rate Outlook Jitters and Economic Data

Asian shares hit a one-month low, U.S. stock futures fell, and the dollar rose as hawkish remarks from central bankers tempered expectations for interest rate cuts. European bonds were sold after European Central Bank officials pushed back on market bets on rate cuts. Donald Trump secured a victory in the first 2024 Republican presidential contest in Iowa, likely to stir volatility in markets. Federal Reserve Board Governor Waller's speech on the economic outlook is closely watched, and gold steadied at $2,048 an ounce. Houthi forces in Yemen struck a U.S.-owned and operated dry bulk ship with an anti-ship ballistic missile, and Australian consumer sentiment took a turn for the worse in January.