Asian markets suffered fresh losses Wednesday as concerns about rising inflation and frothy equity prices continued to sap confidence, with investors unmoved by reassurances from Federal Reserve boss Jerome Powell that officials would maintain record-low interest rates for as long as needed. Global stock indexes have cruised to all-time or multi-year highs in recent months thanks to government and central bank backing, the rollout of vaccines, easing of lockdowns, Joe Biden’s imminent stimulus and falling infection rates. But the rally is showing signs of fatigue as traders fret that valuations may have run ahead of themselves, while the yield on benchmark 10-year Treasury bonds — a key red flag on inflation — has spiked. That has led to worries the Fed will have to lift borrowing costs more quickly than expected, removing a key pillar of support for stocks. Powell sought to soothe those concerns Tuesday in the first of two congressional testimonies, saying inflation was expected to pick up and be “volatile” this year as Americans begin to spend more but told lawmakers the increases were unlikely to be large or persistent. He pledged to keep the bank’s vast bond-buying scheme and low rates in place “until substantial further progress has been made toward our goals” of two percent inflation and full employment.