Global markets update: US stocks slip after Fed minutes show officials split over rate hike
US stocks slipped on Wednesday after the Federal Reserve’s minutes showed that FOMC members were divided over the rate hike in July.
The S&P 500 fell 33.62 points, or 0.76%, at 4,404.24 points. The Dow Jones Industrial Average shed 179.86 points, or 0.51%, at 34,766.53. The Nasdaq Composite lost 156.59 points, or 1.15%, at 13,474.45.
Europe
European markets closed mixed on Wednesday.
The pan-European STOXX 600 closed 0.1% lower.
Britain’s FTSE 100 fell 0.4% at 7,356.88. Germany’s DAX rose 0.1% at 15,789.45. France’s CAC 40 lost 0.1% at 7,260.25.
The European banks index lost 0.7%.
Luxury firms LVMH and Kering fell 0.2% and 0.4%, respectively.
A report showed that euro zone’s GDP in second quarter rose by 0.3% quarter-on-quarter.
Another report showed that industrial production in June increased by 0.5% month-on-month.
Asia
Asian stock markets closed in the red on Wednesday on deteriorating economic conditions in China.
Stock indices in Japan, Hong Kong, South Korea and Australia all fell more than 1%.
Hong Kong’s Hang Seng index slipped 1.4% at 18,329.30. China’s Shanghai Composite lost 0.8% at 3,150.13.
Japan’s Nikkei 225 edged down 1.5% at 31,766.82.
Australia’s S&P/ASX 200 index fell 1.5% at 7195.20 points. New Zealand’s benchmark S&P/NZX 50 index lost 0.488% at 11,763.11.
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Updated: 17 Aug 2023, 02:17 AM IST
