People stand near an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, Aug. 17, 2023, in Tokyo. Asian stocks followed Wall Street lower Thursday after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished. – Global stocks followed Wall Street lower Thursday after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished.
In early trading, the FTSE 100 in London fell 0.3% to 7,332.01. The CAC 40 in Paris lost 0.4% to 7,233.00 and the DAX in Frankfurt retreated 0.3% to 15,738.25.On Wednesday, the Dow lost 0.5% and the Nasdaq composite dropped 1.1%. Yields widened further after the release of Fed notes increased expectations of another possible rate hike. When safer bonds pay higher returns, investors often feel less incentive to buy stocks, which have more volatile prices.
On Wednesday, big technology stocks and other investments seen as particularly vulnerable to higher rates were some of the biggest decliners. Tesla fell 3.2%. Facebook’s parent, Meta Platforms, dropped 2.5%, and Amazon fell 1.9%.helped trigger the slide by suggesting there still is upward pressure on prices.
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