Asian stock markets slip after Fed meet


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Asian stock markets declined on Thursday after the Federal Reserve raised rates, as expected, and kept most of its guidance for additional hikes next year, dashing investor hopes for a more dovish policy outlook.
As markets had expected, the central bank took the target range for its benchmark funds rate from 2.25% to 2.5%. The move marked the fourth increase this year and the ninth since it began normalizing rates in December 2015. It came despite President Donald Trump's tweets against rate hikes. On Monday, he said "it is incredible" that "the Fed is even considering yet another interest rate hike.
Hong Kong’s Hang Seng Index fell as much as 0.7%, the Shanghai Composite Index dropped 0.41%, while the Kospi Index lost as much 0.77%.
Meanwhile, Italian debt surged after the European Commission decided against launching a disciplinary procedure over the country’s budget. Oil shed almost half the day’s gains.
S&P 500 Index lost 1.54% to hit its lowest level since September 2017. US crude futures were little changed at $47.38 per barrel, having fallen to $45.79 earlier this week, the lowest since late August 2017.






























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