London and Frankfurt opened higher. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices rose.
“The Fed will see this as a window of opportunity to pause,” Clifford Bennett of ACY Securities said in a report. Traders hope the U.S. economy can avoid a recession even after the Fed raised its benchmark lending rate to a 16-year high to extinguish surging inflation by cooling business activity.. That would be the first monthly meeting in more than a year without a rate hike.Nvidia gained 3.9% on Tuesday and was the strongest force pushing up the S&P 500, along with other technology stocks. Tech and other high-growth stocks are seen as some of the biggest beneficiaries if the Fed eases off rate hikes.
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