Global markets update: US stocks slip after Federal Reserve hikes rates
US stock markets slipped on Wednesday after Federal Reserve hiked interest rates. The S&P 500 was down 0.7% in late trading. The Dow Jones Industrial Average was down 249 points, or 0.7%, at 33,426, as of 3:42 p.m. Eastern time, while the Nasdaq composite was down 0.4%.
Europe
European shares rose on Wednesday with the pan-European STOXX 600 index gaining 0.3%.
The energy sector dropped 0.8% as oil prices continued to fall on worries about the US economy and its impact on demand.
Britain’s FTSE 100 rose 0.2% at 7,788.37. Germany’s DAX added 0.6% at 15,815.06. France’s CAC 40 was Up 0.3% at 7,403.83.
European Central Bank (ECB) on Thursday will announce its decision on interest rates.
A report showed euro zone unemployment rate fell to 6.5% in March.
Asia
Asian stocks declined on Wednesday.
Hong Kong’s Hang Seng index fell 1.2% at 19,699.16. South Korean benchmark Kospi fell 22.99 points, or 0.91%, at 2,501.40. China’s Shanghai Composite and Japan’s Nikkei 225 were closed for holidays.
Australia’s S&P/ASX 200 index slipped 1.0% at 7,197.4 points. New Zealand’s benchmark S&P/NZX 50 index fell 1.1% at 11,908 points.
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