, falling after the Bank of Japan announced it would widen its yield target range and on fears about weaker global economic growth as banks raise interest rates to cool inflation.
On Wall Street, the future for the benchmark S&P 500 index was off 0.6%. That for the Dow Jones Industrial Average lost 0.4%. That dashed investor hopes the U.S. central bank might ease off rate hike plans due to data showing economic activity cooling. The federal funds rate stands at a 15-year high of 4.25% to 4.5%. The Fed forecast that it will reach a range of 5% to 5.25% by the end of 2023.
On Friday, the U.S. government will report November consumer spending. The report is watched by the Fed as a barometer of inflation.
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