Asian stocks were set to open mostly lower on Wednesday following a sell-off in U.S. stocks, as investors awaited the Federal Reserve's meeting and whether the central bank will maintain near-zero interest rates amid the economy's post-pandemic recovery.
The Dow Jones Industrial Average fell 0.39per cent to end at 32,825.95 points, while the S&P 500 lost 0.16per cent to 3,962.71. The Nasdaq Composite edged up 0.09per cent to 13,471.57.Recent volatility in money markets has stoked speculation the Federal Reserve may be forced into a technical adjustment to the levers controlling its benchmark interest rate, but few expect the central bank to act on the matter at this week's meeting.
"US bond yields and the USD could jump if the FOMC’s post‑meeting statement and Powell’s statement are not deemed dovish enough."
Singapore Latest News, Singapore Headlines
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