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Japan’s benchmark Nikkei 225 lost 0.8% in morning trading to 35,867.33, while Australia’s S&P/ASX 200 lost 0.3% to 7,989.90. All told, the S&P 500 rose 24.47 points to 5,495.52. The Dow dropped 92.63 to 40,736.96, and the Nasdaq composite added 141.28 to 17,025.88. The Fed is turning its focus away from stifling high inflation and toward protecting the economy. The debate on Wall Street is focused on how much the Fed will cut the federal funds rate, which has been sitting at a two-decade high.
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