Stock market today: Global shares mixed after Fed holds rates steady but hints of hikes ahead

France's CAC 40 declined 0.4% in early trading to 7,298.37. Germany's DAX shed 0.2% to 16,277.36. Britain's FTSE 100 slipped nearly 0.1% to 7,596.28. U.S. shares were set to drift lower with Dow futures inching down less than 0.1% to 34,270.00. S&P 500 futures fell 0.1% to 4,413.75.

Japan's benchmark Nikkei 225 erased morning gains to finish little changed, down less than 0.1% at 33,485.49. Australia's S&P/ASX 200 added 0.2% to 7,175.30. South Korea's Kospi shed 0.4% to 2,608.54. Hong Kong's Hang Seng gained 2.2% to 19,828.92, while the Shanghai Composite edged up nearly 0.7% to 3,252.98.

The Fed closed its latest policy meeting by saying it would keep rates where they are to give more time to see how its fusillade of hikes over the last 15 months is affecting the economy. It's trying to slow the economy just enough through rate increases to snuff out high inflation without damaging the job market and creating a recession.

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