Asian markets mixed as Fed meeting looms
Asian markets were a mixed bag on Wednesday, with everyone waiting to see what the US Federal Reserve does about interest rates.
Japan's Nikkei 225 stood out, inching up 0.2% to 44,995.79 in morning trade—even though Japanese exports to the US dropped sharply by 13.8% in August 2024, marking five straight months of declines as auto shipments fell under President Donald Trump's tariffs.
Japan's overall exports slip slightly
Japan's overall exports slipped just a bit (down 0.1%), even after some tariff relief—though sales to Europe and the Middle East actually grew.
Over in the US, major stock indices like the S&P 500 and Nasdaq dipped slightly as investors eyed possible Fed rate cuts amid slow job growth.
Still, retail spending stayed surprisingly strong, showing people aren't done shopping just yet.
Meanwhile, New York Times Co.'s shares fell after Donald Trump hit them with a $15 billion lawsuit.