# Japan, South Korea, Australia stocks down 2% after Powell's speech

> Asian equity markets fell about 2% on Monday after Fed Chair Powell's Jackson Hole speech warned that rates would stay high for some time and cause pain to the economy. The Nikkei fell 2.66% and the yen traded at 138.68 per dollar.

- Date: 2022-08-28 · published 2022-08-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/40267-japan-south-korea-australia-stocks-down-2-after-powell-s-speech
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger expectations of tighter US policy support the dollar and pressure risk assets, which can weigh on demand sentiment across commodity markets.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-04-27 | [Treasury yields show nervousness after Jerome Powell's speech - Stocks and Securities \| Investments and Western Union Colombia](https://feedsoft.ai/events/47885-treasury-yields-show-nervousness-after-jerome-powell-s-speech-stocks-and.md) | +0.2% | -0.8% |
| DXY | 2022-09-28 | [US dollar ‘wrecking ball’ stares down Australian dollar](https://feedsoft.ai/events/39835-us-dollar-wrecking-ball-stares-down-australian-dollar.md) | -1.8% | -1.5% |
| DXY | 2025-10-29 | [Stocks fall, US dollar strengthens after Powell puts chill on December rate cut \| Reuters](https://feedsoft.ai/events/22612-stocks-fall-us-dollar-strengthens-after-powell-puts-chill-on-december-rate-cut.md) | +1.0% | +0.5% |
| DXY | 2021-11-25 | [Asian stocks fall on dollar strength, Bank of Korea hikes rates \| Reuters](https://feedsoft.ai/events/44286-asian-stocks-fall-on-dollar-strength-bank-of-korea-hikes-rates-reuters.md) | -0.2% | -0.6% |
| DXY | 2018-09-28 | [Australian dollar drops on greenback strength, stocks rise - ABC News](https://feedsoft.ai/events/63297-australian-dollar-drops-on-greenback-strength-stocks-rise-abc-news.md) | +0.6% | +1.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/08/29/asia-markets-jerome-powell-jackson-hole-china-industrial-profits-drop.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.