Friday, December 02, 2022
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IN Current Conditions as of 03:00 AM EST Friday, December 2, 2022

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Shares have retreated in Asia after a mixed day on Wall Street. Optimism over moves by China to ease strict pandemic controls faded, replaced by worries over data suggesting recession may be looming. A U.S. measure of inflation that’s closely watched by the Federal Reserve eased in October, raising questions over the central bank's determination to keep raising interest rates to tame price increases. The S&P 500 ended 0.1% lower Thursday, a day after markets rallied as Fed Chair Jerome Powell indicated the central bank could dial back the pace of its interest rate increases.