- Langers edge Tiger and son Charlie in PNC Championship playoff
- Explosive batsman Jacobs gets New Zealand call-up for Sri Lanka series
- Holders PSG edge through on penalties in French Cup
- Slovak PM Fico on surprise visit to Kremlin to talk gas deliveries
- Daniels throw five TDs as Commanders down Eagles
- Atalanta fight back to take top spot in Serie A, Roma hit five
- Mancini admits regrets over leaving Italy for Saudi Arabia
- Run machine Ayub shines as Pakistan sweep South Africa
- Slovak PM Fico on surprise visit to Kremlin
- Gaza rescuers say Israeli strikes kill 35
- 'Incredible' Liverpool must stay focused: Slot
- Maresca 'absolutely happy' as title-chasing Chelsea drop points in Everton draw
- Salah happy wherever career ends after inspiring Liverpool rout
- Three and easy as Dortmund move into Bundesliga top six
- Liverpool hit Spurs for six, Man Utd embarrassed by Bournemouth
- Netanyahu vows to act with 'force, determination' against Yemen's Huthis
- Mbappe back from 'bottom' as Real Madrid down Sevilla
- Ali hat-trick helps champions Ahly crush Belouizdad
- France kept on tenterhooks over new government
- Salah stars as rampant Liverpool hit Spurs for six
- Syria's new leader says all weapons to come under 'state control'
- 'Sonic 3' zips to top of N.America box office
- Rome's Trevi Fountain reopens to limited crowds
- Mbappe strikes as Real Madrid down Sevilla
- 'Nervous' Man Utd humiliated by Bournemouth
- Pope again condemns 'cruelty' of Israeli strikes on Gaza
- Lonely this Christmas: Vendee skippers in low-key celebrations on high seas
- Troubled Man Utd humiliated by Bournemouth
- 2 US pilots shot down over Red Sea in 'friendly fire' incident: military
- Man Utd embarrassed by Bournemouth, Chelsea held at Everton
- France awaits fourth government of the year
- Germany pledges security inquest into Christmas market attack
- Death toll in Brazil bus crash rises to 41
- Joshua bout only fight left for beaten Fury says promoter Hearn
- Odermatt stays hot to break Swiss World Cup wins record
- Neville says Rashford's career at Man Utd nearing 'inevitable ending'
- Syria's new leader vows not to negatively interfere in Lebanon
- Germany pledges security inquest after Christmas market attack
- Putin vows 'destruction' on Ukraine after Kazan drone attack
- Understated Usyk seeks recognition among boxing legends
- France awaits appointment of new government
- Cyclone Chido death toll rises to 94 in Mozambique
- Stokes out of England's Champions Trophy squad
- Gaza rescuers say Israeli strikes kill 28
- Sweet smell of success for niche perfumes
- 'Finally, we made it!': Ho Chi Minh City celebrates first metro
- Angry questions in Germany after Christmas market attack
- China's Zheng pulls out of season-opening United Cup
- Minorities fear targeted attacks in post-revolution Bangladesh
- Tatum's 43-point triple-double propels Celtics over Bulls
Markets struggle as traders digest Fed's hawkish pivot
Equities fell Friday while the dollar maintained gains against its peers as investors assessed the fallout from the Federal Reserve's revised outlook for interest rate cuts and prepared for a second Donald Trump presidency.
Data showing Japanese inflation rose more than expected last month did little to help the yen, which took a hefty hit from the US central bank's more hawkish tilt and the Bank of Japan's refusal to tighten monetary policy.
Traders are now awaiting the release later in the day of data on US personal consumption expenditure -- the Fed's preferred gauge of inflation and the last major piece of data for the year.
Wall Street provided a meek lead, having squandered an early bounce from Wednesday's plunge that was sparked by the Fed's changed rate forecast, with sentiment weighed by a jump in Treasury yields to their highest level since May.
Asia also failed to recover from the previous day's losses.
Hong Kong, Tokyo, Shanghai, Sydney, Singapore, Seoul, Taipei, Mumbai and Bangkok all fell, though Wellington, Jakarta and Manila edged up.
London, Paris and Frankfurt all opened lower.
US monetary policymakers on Wednesday cut rates as expected, but their closely watched "dot pot" guidance on future moves showed they saw two reductions next year, compared with four previously targeted.
Data showing a forecast-topping rise in US economic growth and consumer spending did little to ease concerns that the Fed will keep borrowing costs higher for longer.
Meanwhile, swaps markets are pricing in less than two for all of 2025.
Fed boss Jerome Powell acknowledged Wednesday that Trump's economic plans, including tariff hikes, tax cuts and mass deportations, have been a consideration as policymakers weigh their rate cut estimates.
Economists at Bank of America Global Research said in a commentary: "We stick with our forecast for two more rate cuts next year, but the risks have clearly shifted in the direction of fewer (no) cuts. The onus is now on the data to justify additional cuts.
"The dramatic reaction in markets clearly indicates that an extended pause is now on the table."
They added that if the jobs market ran into severe trouble in the next few months "the Fed would turn more dovish, and (Wednesday's) meeting will feel like a bump in the road, rather than a paradigm shift, a few months down the line".
Investors are keeping a watch on developments in Washington after the House of Representatives rejected a Republican-led funding bill to avert a government shutdown, with federal agencies due to run out of cash on Friday night and cease operations starting this weekend.
The legislation would have kept the government open through March and suspended the borrowing limit for president-elect Donald Trump's first two years in office.
But it was sunk by Republican debt hawks, dealing a blow to their leader and his incoming "efficiency czar" Elon Musk, who had put the package forward after sabotaging a bipartisan one amid complaints about items in the text allegedly ballooning its overall cost.
The dollar held on to its latest gains against its major peers, briefly hitting a five-month high near 158 yen before easing slightly after the government warned Friday against speculators and hinted it could step in to support the currency.
Finance Minister Katsunobu Kato said: "The government's deeply concerned about recent currency moves, including those driven by speculators.
"We will take appropriate action if there are excessive moves in the currency market."
The greenback was also near two-year highs against the euro, while bitcoin tanked to around $97,000 -- having earlier in the week hit a new record of more than $108,000.
- Key figures around 0810 GMT -
Tokyo - Nikkei 225: DOWN 0.3 percent at 38,701.90 (close)
Hong Kong - Hang Seng Index: DOWN 0.2 percent at 19,720.70 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,368.07 (close)
London - FTSE 100: DOWN 0.3 percent at 8,083.12
Euro/dollar: UP at $1.0381 from $1.0364 on Thursday
Pound/dollar: UP at $1.2500 from $1.2496
Dollar/yen: DOWN at 156.90 yen from 157.35 yen
Euro/pound: UP at 83.04 pence from 82.91 pence
West Texas Intermediate: DOWN 0.5 percent at $69.01 per barrel
Brent North Sea Crude: DOWN 0.5 percent at $72.49 per barrel
New York - Dow: UP less than 0.1 percent at 42,342.24 (close)
M.Fischer--AMWN