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International Finance: Asian stocks fall, dollar edges up on hawkish Fed: markets wrap

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Asian stocks followed US equities lower after the Federal Reserve signalled interest rates will climb higher than anticipated next year.

Benchmark indexes in China, Japan, South Korea and Australia slid on Thursday. Futures contracts for the S&P 500 fluctuated after the benchmark snapped a two-day rally on Wednesday in a volatile session that saw shares end off their lows.

“The Fed was decidedly more bearish than expected,” said Karen Jorritsma, head of Australian equities at RBC Capital Markets. “They will stay the course on inflation, making a hard landing almost a certainty.”

 

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