Stock Market News

Asian shares falter, dollar jumps as Powell dampens hopes for more rate cuts.

Asian shares fell to six-week lows on Thursday and the dollar rose after the U.S. Federal Reserve delivered a 25-basis-point rate cut as expected but poured cold water on market expectations of a lengthy easing cycle.

MSCI’s broadest index of Asia-Pacific shares outside Japan slid 0.4%, extending losses for a fifth day to the lowest since mid-June.

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