Asian stock markets fell today following a large loss on Wall Street yesterday. After data from the U.S. showed Consumer confidence dropping to a 16-month low over recession concerns and high inflation.

Market turbulence will likely continue this way as long as we have high inflation and low figures that add up to poor market sentiment. With Mega cap stocks vulnerable to high-interest rates and global central banks' paths, the outlook doesn’t look quite swell for markets.

Major indices slid, with the Nasdaq breaking the 11,190-support level losing almost 3%, and the S&P 500 also losing 2%. Apple Inc, Microsoft Corp, and Amazon.com weighing the heaviest.

On the other hand, the safe-haven greenback remained firm at 104.80 boosted by uncertainty in the markets and ahead of PCE inflation data this Friday and key central bank officials speaking today at the ECB event. Including U.S. Federal Reserve Chair Jerome Powell, BOE governor Andrew Bailey, and ECB President Christine Lagarde.

In Commodities, the energy sector was the only gainer apart from slumping stocks on the back of stronger oil prices that rise on tighter supply predictions. Especially after Saudi Arabia and the United Arab Emirates reported their inability to raise output significantly in the future.

Gold was also at the top following the 10-year treasury yield slide and as recession fears persist.

In Currency markets, the Euro dropped was little changed at $1.0506.

The yen continued to struggle after the Bank of Japan kept monetary policy loose despite other major banks tightening. The USD/JPY was last seen at 136.03 per dollar.