{"id":21053,"date":"2023-09-21T06:47:20","date_gmt":"2023-09-21T06:47:20","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/federal-reserves-steady-rates-trigger-global-market-downturn\/"},"modified":"2023-09-21T06:47:20","modified_gmt":"2023-09-21T06:47:20","slug":"federal-reserves-steady-rates-trigger-global-market-downturn","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=21053","title":{"rendered":"Federal Reserve’s steady rates trigger global market downturn"},"content":{"rendered":"
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\u00a9 Pavlo Gonchar \/ SOPA Images\/Sipa via Reuters Connect <\/span>
\n<\/i>\n<\/div>\n

The Federal Reserve’s decision to maintain higher interest rates has triggered a drop in Asian and U.S. stock markets on Thursday. This decision has also led to a surge in the U.S. dollar value. <\/p>\n

Major indices in Japan, South Korea, and Australia experienced declines following the announcement. 225 fell 0.79% to 32,761.51, and the index dropped 0.4% to 2,396.53. The Kospi index in South Korea decreased by 1.19% to 2,529.68, while Australia’s saw a 0.79% decrease, ending at 7,106.60.<\/p>\n

U.S stocks also faced a downturn despite the Federal Reserve maintaining key interest rates as previously anticipated while adjusting economic projections upwards. The fell by 76.85 points or 0.22%, landing at 34,440.88, while the lost 41.75 points or 0.94%, settling at 4,402.2. The saw a decline of 209.06 points or 1.53%, ending at 13,469.13.<\/p>\n

The Federal Reserve has kept its target range steady at between 5.25% and 5.5%. Updated quarterly projections reveal that most officials are in favor of an additional rate hike in 2023, implying a potential reduction in monetary easing next year.<\/p>\n

Despite the stability in rates, the Federal Reserve’s projections suggest a possible rate hike of 25 basis points later this year and a subsequent rate cut of 50 basis points next year. Core inflation remains above the target of 2%, even though it is moderating, with expectations for the end of the year standing at 3.3%.<\/p>\n

The impact of these changes was also reflected across Sensex, Nifty, BSE, NSE, and other Indian stock markets on the same day.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Pavlo Gonchar \/ SOPA Images\/Sipa via Reuters Connect The Federal Reserve’s decision to maintain higher interest rates has triggered a drop in Asian and U.S. stock markets on Thursday. This decision has also led to a surge in the U.S. dollar value. 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