Asian shares are lower, tracking a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought.
U.S. stocks slumped Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it.
The Fed held its main interest rate steady at its highest level in more than two decades, as was expected.
Wednesday on Wall Street, the S&P 500 fell 0.9% to 4,402.20.
Shares of Klaviyo, which helps advertisers market over email and text messaging, rose 9.2% in their first day of trading.
Persons:
Jerome Powell, it’s, ” Anderson Alves, ActivTrades, Hang Seng, Australia's, Grant Robertson, Fonterra, Powell, ” Powell, Instacart, Brent, Nick Perry
Organizations:
Federal Reserve, Fed, Nikkei, Toshiba Corp, Statistics New, Finance, Zealand, Dow Jones, Nasdaq, Treasury, Big Tech, Microsoft, Apple, Nvidia, Arm Holdings, New York Mercantile Exchange, U.S
Locations:
U.S, Shanghai, Seoul, Statistics New Zealand, China, Wellington , New Zealand