Shares were mostly lower Wednesday in Asia after Wall Street benchmarks retreated following the S&P 500’s rise to its highest level since the spring of last...
BANGKOK — Shares were mostly lower Wednesday in Asia after Wall Street benchmarks retreated following the S&P 500’s rise to its highest level since the spring of last year.Tokyo’s Nikkei 225 JP:NIK edged 0.3% higher, while the Hang Seng HK:HSI in Hong Kong sank 1.9%. The Shanghai... BANGKOK — Shares were mostly lower Wednesday in Asia after Wall Street benchmarks retreated following the S&P 500’s rise to its highest level since the spring of last year.Tokyo’s Nikkei 225 NIK edged 0.
“Investors are turning cautious ahead of another hefty dose of Fedspeak amidst a relatively light data docket,” Stephen Innes of SPI Asset Management said in a commentary. On Tuesday as U.S. markets reopened after being closed in observance of the Juneteenth holiday, the S&P 500 SPX fell 0.5% to 4,388.71. The Dow Jones Industrial Average DJIA dropped 0.7% to 34,053.87, and the Nasdaq composite COMP lost 0.2%, to 13,667.29.
Those hopes are battling against worries that the Fed will keep interest rates high for longer, which could grind down the economy. Some of the easiest improvements in year-over-year inflation will soon be passed, bringing tougher times for both the economy and financial markets.
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