Equities fall as traders take profits ahead of a Fed policy decision that is expected to provide clues on its interest rate plans for the year
People walk past an electronic board showing Japan’s Nikkei average and the yen’s exchange rate against the dollar outside a brokerage in Tokyo, Japan. Picture: REUTERS/TORU HANAI
Still, on the whole, many market players held on to hopes of a trade deal between Washington and Beijing as officials from both sides remained locked in negotiations. Companies in the survey listed the global trade war as the top business risk, followed by higher interest rates and the slowing Chinese economy.
The Fed is also expected to lay out a plan to stop shrinking its $4-trillion balance sheet, or so-called quantitative tightening. Many policymakers have suggested the Fed is likely to conclude the process and stabilise its bond holdings by the end of this year.
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