As Australia waits for its September unemployment figures and Japan's September trade balance data, the Asia-Pacific markets will likely fall.
The 10-year Treasury yield has broken above 4,9% for the first since 2007.
The average 30-year fixed-rate mortgage rate has reached 8%, its highest level since 2000.
The S&P/ASX 200 in Australia fell 1.36% early on, wiping out all of the gains made so far this week.
The Nikkei index in Japan is also expected to fall. Futures contracts in Chicago and Osaka are at 31,625 against the last close of 32 044.
Futures for Hong Kong’s Hang Seng Index stood at 17,569 extending losses since Wednesday. This indicates a weaker opening compared to the HSI’s close of 17732.52.
All three major US indexes fell on Wednesday, and none was in positive territory during the session.
The Dow Jones Industrial Average dropped 0.98% or more than 300 points. The S&P 500 fell 1.34% while the Nasdaq Composite fell 1.62%.
This report was contributed by Samantha Subin of CNBC and Alex Harring.
6 Hours Ago
Fed report: Economy is unchanged, but hiring and prices are up.
In its Beige Book, released on Wednesday, the Federal Reserve said that the U.S. economic situation has remained "little changed" in the last six weeks.
The report described spending as "mixed", while prices rose "at a modest rate". The report said that companies expect inflation to rise, but at a slower rate.
As firms hired "less urgently", the majority of areas experienced "moderate increases" in employment. Respondents expected the economy to grow "stable" or with "slightly weaker growth."
5 Hours Ago
Citi's Chronert says that stocks are in good shape as long as the Middle East conflict is contained.
According to Citi's Scott Chronert, the market is in a "uncertain" state as long as the Middle East conflict remains contained.
The U.S. equity analyst told CNBC’s "Squawk on the Street", on Wednesday, that he was thinking of it as contained rather than escalating. "As long it stays contained, our view of U.S. equity is pretty good," said the U.S. equity strategist on CNBC's "Squawk on the Street" program.
The third quarter earnings have also been reported, which further confirms the good fundamentals of the stock market, he said.