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Stock market today: World shares are mixed as markets await a rate decision by the Fed

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Asian shares have closed mostly higher while European markets opened lower as investors awaited the latest signals from the Federal Reserve on the timing of cuts to interest rates.

FILE - A person walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo, Jan. 22, 2024. Asian markets were mostly higher Wednesday, March 20, 2024 ahead of expected guidance by the Federal Reserve on the timing of its cuts to interest rates. – Asian shares closed mostly higher while European markets opened lower Wednesday as investors awaited the latest signals from the Federal Reserve on the timing of cuts to interest rates.

The Hang Seng in Hong Kong gained 0.2% to 16,557.26, and the Shanghai Composite index was up 0.6% at 3,079.69. Elsewhere, Australia’s S&P/ASX 200 dropped 0.1% to 7,695.80, while the Kospi in South Korea advanced 1.3% to 2,690.14, Taiwan’s Taiex lost 0.4%. International Paper rose 11% for the biggest gain in the S&P 500 after it named Andrew Silvernail, an executive at investment company KKR, as its new CEO.On the losing end of Wall Street was Super Micro Computer, whose stock had earlier zoomed from less than $100 to more than $1,000 in a year. The seller of server and storage systems used in AI and other computing, sank 9% after it said it’s looking to sell 2 million shares of its stock.

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