Today’s Announcements & News
As investors anticipate the overnight policy decision from the United States Federal Reserve, markets in Asia-Pacific fell substantially on Wednesday.
The majority of economists surveyed by Reuters anticipate that the Fed will raise interest rates by 25 basis points, while the remaining economists anticipate a pause.
Energy, industrials, and healthcare stocks accounted for the majority of the region’s losses in Hong Kong’s Hang Seng index, which lost 1.34 percent in its final hour of trading, while the Hang Seng Tech index lost 1.88 percent.
In Australia, the S&P/ASX 200
fell 0.96% to end the day at 7,197.4, while South Korea’s Kospi dropped 0.91% to close at 2,501.4 and the Kosdaq saw a bigger misfortune, falling 1.45% and finishing the day at 843.18. Markets in Japan and central area China are shut for a vacation Wednesday.
Stocks fell on Wednesday after the widely anticipated 25 basis point Federal Reserve rate increase.
The Dow Jones Industrial Average fell 0.80 percent, or 270.29 points, to 33,414.24 at the close. The S&P 500
dropped 0.70% to close at 4,090.75. The Nasdaq Composite fell 0.46 percent to 12,025.33 at the close. Three-day losing streaks were recorded by the indexes.
After Fed Chair Jerome Powell said that he didn’t think interest rates would be cut because he didn’t think inflation would come down fast enough, there was a slight dip in earlier optimism.
“In deciding the degree to which extra strategy firming might be proper to return expansion to 2 percent after some time, the Panel will consider the combined fixing of money related strategy, the slacks with which money related arrangement influences monetary action and expansion, and monetary and monetary turns of events,” the Fed said in an assertion.
However, traders were concentrating on what the Fed did not say this time around in its statement after the meeting. The national bank seemed to relax its language about future rate increments by getting in contact from the Walk explanation that said, “the Council guesses that some extra arrangement firming might be fitting.”
After the U.S. Federal Reserve raised interest rates and investors worried about the economy, oil prices fell 4 percent on Wednesday, continuing their steep losses from the previous session.
Brent futures closed at $72.33 a barrel, the global benchmark’s lowest close since December 2021, down $2.99, or 4%. Brent fell to its lowest level since March 20 at $71.70 a barrel during the session.
After a brief rise to nearly 1 percent on Wednesday, gold held steady as the U.S. Federal Reserve announced a pause in further rate increases and carried out the widely anticipated rate hike.
Spot gold was last 0.28% higher at $2,021.95 per ounce in the wake of contacting its most noteworthy since April 14 at $2,036.15 prior.
The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.