Asian stocks barely moved as investors await US Fed decision
Business
Asian stocks barely budged on Wednesday, with investors waiting to see if the US Federal Reserve will hike interest rates.
The MSCI Asia Index inched up 0.1%, while US chip stocks saw a small boost, even as the S&P 500 and Nasdaq 100 slipped a bit.
US bond yields near 20-year high
With inflation running hotter than expected, most traders now think a Fed rate hike is almost certain.
That's pushed US bond yields to their highest in nearly 20 years and sent Bitcoin sliding after the Senate blocked key crypto legislation.
Meanwhile, the UK and Japan are also set to announce their own rate decisions later this week, which could shake things up globally.