The Fed is expected to raise its benchmark interest rate by twice the usual amount this week as it steps up its fight against inflation, which is at a four-decade high.
World shares were mostly lower on Wednesday as investors waited for a decision by the Federal Reserve on interest rates.
"All eyes are peering toward the FOMC meeting and a rate hike is an absolute given," Clifford Bennett, chief economist at ACY Securities, said in a commentary. India's Sensex lost 1% to 56,425.88. Taiwan's benchmark rose and most other regional markets were closed, including those in Japan and mainland China.
Oil prices rose as the European Union said it was preparing new sanctions against Russian energy over the war in Ukraine, though Slovakia and Hungary said they would oppose such measures. The S&P 500 ended 0.5% higher and the Dow Jones Industrial Average rose 0.5%. The Nasdaq inched up 0.2%, while the Russell 2000 added 0.9%.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Central Bank Watch: Fed Speeches, Interest Rate Expectations Update; May Fed Meeting PreviewRates markets are fully pricing in a 50-bps rate hike by the Federal Reserve on Wed. We’ll discuss how markets may react to the rate decision starting at 13:45 EDT/17:45 GMT on Wednesday.
Read more »
Fed expected to aggressively raise interest rates to tame inflationThe Fed is expected to raise interest rates this week with the biggest jump in more than 20 years as the central bank tries to get control of historic inflation.
Read more »
Fed to fight inflation with fastest rate hikes in decadesAfter its latest rate-setting meeting ends Wednesday, the Fed will almost certainly announce that it’s raising its benchmark short-term interest rate by a half-percentage point — the sharpest rate hike since 2000.
Read more »
4 things to know as the Fed embarks on its biggest fight against inflation in yearsThe Federal Reserve is expected to approve its largest interest rate hike in more than two decades this week. Additional rate increases are likely, as the Fed tries to regain control over inflation.
Read more »
Asian markets slip ahead of Fed interest-rate decisionShares were mostly lower in Asia on Wednesday, with markets in China, Japan and some other markets still closed for holidays.
Read more »