Wednesday, 26 September 2018

Markets mixed ahead of Fed decision

Markets were mixed on Tuesday.

The S&P 500 fell 0.1 percent but the STOXX Europe 600 rose 0.5 percent.

Earlier in Asia, the Nikkei 225 rose 0.3 percent but the Shanghai Composite fell 0.6 percent.

Most investors' eyes are on the Federal Reserve's monetary policy meeting, which is expected to announce an interest rate hike on Wednesday.

Justin Walters, strategist and co-founder of Bespoke, noted that the “S&P 500 has now fallen on four consecutive Fed Days dating back to March”.

However, he also noted that the biggest decline on the last four Fed Days was just 0.72 percent, “so at least the drops haven’t been extreme”.

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