Asian stocks follow Wall Street lower before likely U.S. rate hike

Shanghai, Hong Kong and South Korea declined. Tokyo and Sydney advanced. Oil prices were little changed, staying below US$100 per barrel.

The Fed is expected to announce a rate hike Wednesday of up to three-quarters of a percentage point, triple its usual margin. That would match a similar increase last month, the U.S. central bank's biggest in 28 years. On Wall Street, the benchmark S&P 500 index fell 1.2% to 3,921.05. The Dow Jones Industrial Average dropped 0.7% to 31,761.54. The Nasdaq composite closed 1.9% lower at 11,562.57.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks follow Wall Street ahead of likely U.S. rate hikeAsian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike from the U.S. Federal Reserve to cool inflation.
Source: CTVNews - 🏆 1. / 99 Read more »

Nascent U.S. stock rally hangs in balance as Wall Street awaits megacap earningsResults from the four largest companies by market value could help determine whether the stock market can sustain its recent pace
Source: globeandmail - 🏆 5. / 92 Read more »