Asian shares slip ahead of Fed interest rate decision
ABC News
Shares are mostly lower in Asia, with markets in China, Japan and some other markets still closed for holidays
Shares were mostly lower in Asia on Wednesday, with markets in China, Japan and some other markets still closed for holidays.
Hong Kong and Seoul fell more than 1% and oil prices were higher.
On Tuesday, stocks closed modestly higher on Wall Street as investors waited for Wednesday’s decision by the Federal Reserve on interest rates.
The Fed is expected to raise its benchmark rate by twice the usual amount this week as it steps up its fight against inflation, which is at a four-decade high. It has already raised its key overnight rate once, the first such increase since 2018, and Wall Street is expecting several big increases over the coming months.
