futures in the asiapacific pointed to a lower open on wednesday after the dow jones industrial average and sp 500 posted their third day of losses in the us japans nikkei futures contract in osaka was at 28450 compared against the nikkei 225s last close at 2845275 in australia spi futures were at 6880 lower than the spasx 200s last close at 69618 overnight in the us the dow slipped 15402 points or 047 to 3290959 the sp 500 dropped 022 to 412873 and the nasdaq composite was slightly lower at 1238130 equity markets weakened overnight on relatively light trading as poor manufacturing and housing data weighed on risk sentiment anz research said in a wednesday note federal reserve bank of minneapolis president neel kashkari pointed towards supplyside shocks driving half to twothirds of the nations high inflation the more help we get from the supply side the less the fed has to do and the better were able to avoid a hard landing he said speaking at an event at the university of pennsylvania he did add however theres some evidence that supply chains are beginning to normalize