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Australia’s S&P/ASX 200 dipped 0.9% to 8,177.90 after its inflation rate in the third quarter came in at 2.8%, the lowest level in more than three years, according to the Australian Bureau of Statistics.The S&P 500 rose 0.2% to 5,832.92 on Tuesday. Gains for influential Big Tech stocks helped mask weakness elsewhere, and they pushed the Nasdaq composite up 0.8% to 18,712.75. The Dow Jones Industrial Average, meanwhile, fell 0.4% to 42,233.05.
That’s after the Fed kicked off its rate-cutting campaign in September with a larger-than-usual reduction. Just a month ago, many traders were thinking the Fed would follow up in November with another bigger-than-usual cut.