Skip to Content

Asian stocks follow Wall St down amid US interest rate fears

AP Business Writer

BEIJING (AP) — Asian stock markets are lower after the Federal Reserve indicated it might raise interest rates more aggressively to cool U.S. inflation. Shanghai, Tokyo, Hong Kong and South Korea declined. Oil fell more than $2 per barrel amid concerns global economic growth might weaken. Investors are uneasy about possible downward pressure on economic activity from higher interest rates, Russia’s war on Ukraine and China’s efforts to contain coronavirus outbreaks. Wall Street’s benchmark S&P 500 lost 0.3% after Fed officials indicated in notes from their last meeting they were considering raising its benchmark rate by double the normal amount. They also indicated they are likely to shrink Fed bond holdings, which also might push up commercial borrowing rates.

Article Topic Follows: AP National Business

Jump to comments ↓

Author Profile Photo

The Associated Press


News Channel 3-12 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content