Asian stock markets followed Wall Street lower on Thursday after investors saw minutes from a Federal Reserve meeting as a sign the U.S. central bank might...
BEIJING — Asian stock markets followed Wall Street lower on Thursday after investors saw minutes from a Federal Reserve meeting as a sign the U.S. central bank might hike interest rates faster to cool inflation.
The report “bludgeoned the markets” by upsetting expectations that earlier Fed plans were locked in, said Vishnu Varathan of Mizuho Bank in a report. On Wall Street, the S&P 500 SPX, -1.94% slid 1.9% on Wednesday to 4,700.58. The Dow Jones Industrial Average DJIA, -1.07% fell 1.1% to 36,407.11, pulling back from the previous day’s record. The Nasdaq composite COMP, -3.34% tumbled 3.3% to 15,100.17 in its biggest one-day decline in 11 months.
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