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Global stocks fall as Fed fails to offer fresh cause for cheer | Malay Mail

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TOKYO, Sept 17 — Stocks fell and the dollar advanced today after the Federal Reserve pledged to keep interest rates low for a long time but stopped short of offering further on stimulus to shore up a battered US economy. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.82 per...

US S&P 500 futures fell 0.87 per cent in Asia today following a 0.46 per cent drop in the S&P 500 on Wall Street. — Reuters pic

US S&P 500 futures fell 0.87 per cent in Asia today following a 0.46 per cent drop in the S&P 500 on Wall Street. New economic projections released with the policy statement showed most policymakers see interest rates on hold through to at least 2023, with inflation never breaching 2 per cent over that period.

Still, with such expectations already long considered as a foregone conclusion by many investors, there was some disappointment in the market. The Chinese yuan also dropped about 0.35 per cent to 6.7686 per dollar, stepping back from a 16-month high hit yesterday.

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