World shares have declined, echoing 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.
Benchmarks fell by 1% or more in Paris, Tokyo, Sydney and Hong Kong. U.S. futures slipped and oil prices also were lower.steady at its highest level in more than two decades, as was expected. Officials also indicated they may raise the federal funds rate once more this year, as they try to get inflation down to a 2% target.
The Fed's chair, Jerome Powell, said the Fed is close to hitting the peak on rates, if not there already. New Zealand's benchmark stock index fell less than 0.1% as figures released Thursday by Statistics New Zealand indicated the economy expanded at a 3.2% annual pace in the April-June quarter. In quarterly terms, GDP rose by 0.9% . Finance Minister Grant Robertson said the economy was turning a corner and growing at twice the rate predicted by economists.
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.
Why a Wall Street stock downgrade means more for your money than an upgradeJust 5.6% of current Wall Street analyst ratings of S&P 500 companies are in the 'sell' category
Read more »
Why Jim Cramer agrees with a Wall Street firm's downgrade of this gym stockPlanet Fitness (PLNT) tumbled Tuesday on a slew of Wall Street downgrades.
Read more »
Why Jim Cramer agrees with Wall Street's downgrade of this gym stockPlanet Fitness (PLNT) tumbled Tuesday on a slew of Wall Street downgrades.
Read more »
Wall Street slips ahead of Fed decision on ratesStocks have been seesawing for weeks on uncertainty about whether the Fed is done with its market-shaking hikes to interest rates.
Read more »
The Market-Beating Investment That’s Defying Wall Street SkepticsRising interest rates are boosting risky corporate-loan returns instead of hurting them.
Read more »
Jailed Wall Street Journal reporter Evan Gershkovich appears at a Moscow court to appeal his arrestJailed Wall Street Journal reporter Evan Gershkovich appears at a Moscow court to appeal his arrest
Read more »