Global markets today: Asian markets mostly declined for second session straight on Wednesday despite overnight gains on Wall Street.
Japan’s Nikkei 225 edged down 0.17 per cent, while the Topix dropped 0.3 per cent. South Korea’s Kospi slipped 0.17 per cent, and the small-cap Kosdaq fell 0.16 per cent.
In contrast, Australia’s S&P/ASX 200 rose 0.23 per cent.
Futures for Hong Kong’s Hang Seng index were at 25,626, indicating a higher opening compared to the previous close of 25,524.92.
The Indian stock market will remain closed on Wednesday on the occasion of Ganesh Chaturthi. Indian markets will remain in focus tomorrow as new U.S. tariffs take effect, with the country now facing additional duties of up to 50% on exports to the U.S., following the Trump administration’s escalation in response to its significant imports of Russian energy.
U.S. stock market today
The S&P 500 closed higher on Tuesday, supported by gains in Nvidia and Eli Lilly, even as U.S. President Donald Trump’s dismissal of a central bank governor intensified worries over the Federal Reserve’s independence.
The S&P 500 rose 0.41 per cent to finish at 6,465.94, slightly below its record close from August 14. The Nasdaq advanced 0.44 per cent to 21,544.27, while the Dow Jones Industrial Average added 0.30 per cent to settle at 45,418.07.
On Monday, Trump announced the removal of Fed Governor Lisa Cook over alleged irregularities in securing mortgage loans, raising concerns about the central bank’s political independence. S&P 500 futures briefly dipped before rebounding as investors maintained expectations that the Fed would start cutting interest rates in September.
Despite persistent inflationary pressures, traders continue to anticipate a 25-basis-point rate cut at the Fed’s September policy meeting, supported by dovish comments from Fed Chair Jerome Powell, signs of weakness in the labor market, and recent changes at the central bank.
(With inputs from agencies)
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