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Asian markets mixed as US producer prices drop
Asian markets were a mixed bag on Thursday after US stocks hit new highs.
Australia's shares slipped, while Japan's market bounced between gains and losses.
The big driver? US producer prices unexpectedly dropped in August, fueling optimism that the Federal Reserve might cut interest rates soon.
Fed rate cut talks are heating up
With this surprise dip in prices, talk of a Fed rate cut is heating up—most are betting on a 0.25% cut, but some experts think it could be bigger.
Economist Neil Dutta even floated the idea of a 0.5% reduction, though not everyone agrees.
All eyes are now on Thursday's inflation data, which could shape what the Fed does next week as debates over inflation and the economy continue.