Asian shares fell Monday after another week of sizable losses on Wall Street, as investors braced for another interest rate hike by the U.S. Federal Reserve.
Japan’s markets were closed for a holiday. Oil prices rose while U.S. futures ES00 YM00 NQ00 declined.Japan’s markets were closed for a holiday. Oil prices rose while U.S. futures ES00 YM00 NQ00 declined.
However the Bank of Japan has held firm so far in maintaining an ultralow benchmark rate of minus 0.1% in hopes of stimulating investment and spending. Most economists forecast that the Fed will jack up its primary lending rate another three-quarters of a point when the central bank’s leaders meet this week.
The S&P 500 SPX fell 0.7% to 3,873.33. It’s now down 18.7% so far this year. The Dow Jones Industrial Average DJIA dropped 0.5% to 30,822.42 and the Nasdaq COMP slid 0.9% to 11,448.40.
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