Another wave of risk aversion swept through Asian shares on Tuesday, as the implosion of Silicon Valley Bank (SVB) continued to echo across global markets.

A sense of caution enveloped financial markets on Wednesday as geopolitical tensions and concerns about higher U.S. interest rates hit risk appetite.

Asian shares flashed red on Wednesday along with US futures as investors evaluated sticky American inflation data and remarks from Fed officials.

The world’s most-traded currency pair could reach a fresh 9-month high in the upcoming week, as markets compare the latest policy clues between the US Federal Reserve and the European Central Bank.