Business & Finance
Asian Stocks to Slip Ahead of Fed, Oil Steadies: Markets Wrap
Key Points
Asian Stocks to Slip Ahead of Fed, Oil Steadies: Markets Wrap Stocks in Asia looked set to snap a three-day winning streak, tracking declines on Wall Street as investors rotated out of technology shares and positioned for the first Federal Reserve policy decision under Chairman Kevin Warsh. Equity-index futures for Japan, South Korea and Australia pointed to losses at the open, while contracts for Hong Kong edged higher. A pullback in chipmakers after a sharp rally weighed on US equities,...
Asian Stocks to Slip Ahead of Fed, Oil Steadies: Markets Wrap
Stocks in Asia looked set to snap a three-day winning streak, tracking declines on Wall Street as investors rotated out of technology shares and positioned for the first Federal Reserve policy decision under Chairman Kevin Warsh.
Equity-index futures for Japan, South Korea and Australia pointed to losses at the open, while contracts for Hong Kong edged higher. A pullback in chipmakers after a sharp rally weighed on US equities, dragging the S&P 500 lower and sending the Nasdaq 100 down almost 2%. Elsewhere, SpaceX extended its post-IPO surge to nearly 50%, overtaking Amazon.com Inc. to become the world’s fifth-largest company by market value.