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Global equities pushed toward fresh record highs as softer US inflation data eased near-term price pressure concerns and reinforced confidence in the AI-driven rally. Asian markets led the move, with the MSCI Asia Pacific Index up 0.7%, helping lift the MSCI All Country World Index toward another record close.

The rally in global equities extended into Asia as investors broadened exposure beyond U.S. markets, drawn by cheaper valuations and stronger growth prospects. The MSCI Asia Pacific Index rose 0.9% to a record, helping push the MSCI All Country World Index to a fresh all-time high, while European futures pointed higher.

US equity futures fell and the dollar weakened after Fed Chair Jerome Powell said threats of a criminal indictment were a consequence of the central bank’s interest-rate policies. S&P 500 and Nasdaq 100 futures moved lower as Powell said the Fed had been served grand jury subpoenas linked to renovations of its headquarters, framing the move as political retaliation tied to monetary decisions.