US Treasurys prices slid as the Federal Reserve chairman suggested the US central bank was prepared to reduce its bond purchases if its economic outlook proves correct.
Gold prices erased earlier gains on Wednesday as investors digested the possibility of tapering and the US dollar rose.
Japan's benchmark Nikkei index soared to a one-week high on Wednesday, underpinned by continued weakness in the yen and optimism about the Federal Reserve's policy decision.
Stocks rallied to finish near session highs Tuesday, with the Dow soaring nearly 150 points, as members of the Federal Reserve kicked off their two-day meeting to discuss the future of the central bank's bond-buying program.
Most U.S. Treasurys prices were little changed on Tuesday, as investors awaited the outcome of the Federal Reserve's two-day meeting.
The U.S. dollar rose for a second day against the yen on Tuesday as some traders bet the Federal Reserve may signal it is almost ready to reduce its bond buying program.
Oil prices ended slightly higher in sluggish trading as the market awaited the Federal Reserve's policy statement that is expected to show whether it will reduce monetary stimulus.
Gold futures settled lower at $1366 per ounce as U.S. equities rallied and bullion buyers took to the sidelines before the conclusion of a two-day Fed policy meeting.
European shares closed mixed on Tuesday, after better-than-expected economic data from Germany, and stock market gains in the U.S.
The effects of the Federal Reserve's bond-buying program are looking more lackluster and more disruptive to market functioning, according to the latest CNBC Fed survey.
Asian equity markets were mixed on Tuesday, as nervous investors awaited the U.S. Federal Open Market Committee's latest update on its stimulus program.
US government debt prices fell on Monday a day before the Federal Reserve meets for a two-day policy meeting on concerns the central bank might be moving closer to tapering.
Gold settled lower at $1,383 on Monday as a Wall Street rally decreased the need for safe-haven buying, with investors awaiting this week's US Fed meeting.
The yen fell against the dollar and the euro as global stocks rebounded, but the Japanese currency may stay near two-month highs until investors get more clarity on the Federal Reserve's ultra-loose policy.
Tokyo stocks closed up 2.7 percent on Monday as investors bought battered exporter stocks, while gains in the rest of Asia were capped ahead of the Federal Reserve's meeting.
The yen rose against the U.S. dollar on Friday for a fourth straight day as investors unwound bets against the Japanese currency due to uncertainty surrounding central banks.
Stocks eased off their lows but were still broadly in the red Friday, led lower by banks, as investors digested a handful of mixed economic reports and remained on edge as concerns remained over whether central banks will pare back their stimulus programs.
Gold settled higher at $1,387 an ounce on Friday, driven by resilient demand for coins and bars and a pullback in the US equities market lifted gold on the day and for the week.
Brent crude rises to $107 and US oil strikes a nine-month high after news that US authorized sending U.S. weapons to Syrian rebels sparked concerns about Middle East supplies.
European shares closed narrowly higher on Friday, having pared gains when mixed economic reports from the U.S. did little to soothe concerns about an imminent end to the Federal Reserve's bond buying program.