Fed meeting looms, more tech IPOs ahead, Evergrande slips - what's moving markets
Tech stocks led the declines on Friday. Lingering concerns over the broader economic outlook were exacerbated after Reuters reported that Taiwanese chipmaker TSMC had asked its major suppliers to delay the delivery of high-end semiconductor manufacturing equipment.
Along with the Fed's much-anticipated decision, the Bank of England and Bank of Japan are also scheduled to hold policy meetings this week. A cooling U.K. economy may persuade the BOE to unveil one final rate hike in a long-standing tightening cycle, while the BOJ could provide some clues about a possible shift away from an era of ultra-loose policy.
Arm's stock surged by 25% in its first trading day last Thursday, sparking hopes for a revival in an IPO market that has been hit by economic uncertainty and elevated interest rates.Shares in China Evergrande Group fell sharply on Monday after police detained some staff at the embattled property developer's wealth management unit.
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