Business Maverick: Stocks, US equity futures dip on recession worries: markets wrap

Asian equities fell amid declines in Japan as well as in Chinese technology shares. S&P 500, Nasdaq 100 and European contracts were in the red.

Investors have shifted to betting that ebbing economic expansion, and possibly even a recession, will moderate high inflation and soften the current cycle of monetary tightening that’s roiled global markets in 2022. The Federal Reserve policy decision this week, along with earnings from the likes of Google’s Alphabet and technology titan Apple, will help to clarify the outlook for a one-month-old rebound in stocks from 2022’s selloff.

Swaps tied to Fed meeting outcome dates indicate another 75 basis-point interest-rate hike on Wednesday. Expectations for the peak in the policy rate have moderated to about 3.4% roughly by year-end. Cuts are then expected in 2023.

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