Stock market today: Asia follows Wall Street lower after Fed's notes dent hopes of rate hikes ending
Asian stocks have followed Wall Street lower after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished
By JOE McDONALD
Published - Aug 17, 2023, 01:12 AM ET
Last Updated - Aug 17, 2023, 01:12 AM EDT
BEIJING (AP) — Asian stocks followed Wall Street lower Thursday after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished.
Hong Kong, Tokyo and Seoul declined. Shanghai was unchanged. Oil prices were lower.
Wall Street's benchmark S&P 500 lost 0.8% on Wednesday after minutes from the Fed's latest meeting suggested board members are unsure what to do after raising their key lending rate to a two-decade high. Traders had hoped they would decide inflation was under control and last month's rate hike was the last.
Fed officials face a “tough balancing act” between “the risk of an inadvertent over-tightening of policy against the cost of an insufficient one,” said Tan Boon Heng of Mizuho Bank in a report.
