Bonds came under pressure on Tuesday after Chairman Jerome Powell said the US Federal Reserve would raise interest rates by half a percentage point at its next policy meeting.

US and European stock futures fell, while Asian stocks soared. Shares rose in Australia, South Korea and Japan. US futures were volatile.

Singapore-traded SGX Nifty, an early barometer of India’s Nifty 50 index, rose 0.14% to 17,175.50 points as of 6:55 AM

Oil extended a rally, with Russia’s war in Ukraine nearing its one-month mark while Bitcoin hovered around $41,100.

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