The dollar climbed in Asian trading after Federal Reserve Chairman Jerome Powell warned against expecting a lengthy U.S. monetary easing cycle. Stocks slid by less than seen on Wall Street, with Japanese shares in particular helped by the yen’s decline. Japanese benchmarks opened sharply lower before recouping those losses as the yen slid. U.S. stock futures also clawed back an early drop. The S&P 500 Index lost 1.1%, though closed off of its lows after Powell also said that he wasn’t ruling out a sequel to Wednesday’s cut. Ten-year Treasuries surrendered gains made after the Fed’s meeting, where policy makers also brought forward their plan to abandon the run-down in the bond portfolio. Hong Kong, Chinese and Australian shares fell, while Korean ones edged up. Crude oil prices tumbled. The dollar hit a two-month high. - Bloomberg 

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