Fed interest rates, Wall Street, currencies, yields

Home » Fed interest rates, Wall Street, currencies, yields
Fed interest rates, Wall Street, currencies, yields

The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020.

Toru Hanai | Bloomberg via Getty Images

Futures in the Asia-Pacific are set to open lower Wednesday, following Wall Street’s negative lead as investors await the Federal Reserve’s interest rate decision.

The Nikkei futures contract in Chicago was at 27,205 while its counterpart in Osaka was at 27,230. That’s lower compared against the Nikkei 225’s last close at 27,688.42.

In Australia, SPI futures were at 6,737, lower than the S&P/ASX 200‘s last close at 6,806.40.

U.S. stocks fell overnight as the majority of traders expect another 75 basis point rate hike from the Fed on Wednesday.

“A sourer tone took hold over the past 24 hours, with equities lower and haven currencies, including the dollar, stronger,” Taylor Nugent, economist at National Australia Bank, wrote in a Wednesday note.

The Dow Jones Industrial Average dropped 313.45 points, or 1.01%, to 30,706.23. The S&P 500 slid 1.13% to 3,855.93 and the Nasdaq Composite slumped 0.95% to 11,425.05. The dollar index strengthened above the 110 level.

— CNBC’s Samantha Subin and Jesse Pound contributed to this report.

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