BANGKOK — Stocks were mixed in Asia on Wednesday after new U.S. data showed inflation is still running high, putting a spotlight on what action the Federal Reserve will take as it holds its last meeting of the year.
“COVID-19 remained the key reason holding back a full recovery. Efforts to contain the virus flare-up beginning in mid-October lasted through most of November as infections reached 21 provinces, making consumers more cautious,” Mark Williams and Sheana Yue of Capital Economics said in a commentary. The Dow DJIA, -0.30% dropped 0.3% to 35,544.18. The Nasdaq COMP, -1.14% fell 1.1% to 15,237.64. The Russell 2000 RUT, -0.96% gave up 1% to 2,159.65.
The Fed is expected to speed up the process for trimming bond purchases, which have helped keep interest rates low and support the stock market and broader economy. Beyond that, investors are watching the central bank for any statements on how soon it might raise interest rates in 2022.
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