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The Independent UK
The Independent UK
National
Joe McDonald

Asia stocks fall after Fed says more US rate hikes likely

Asia ING United States US Federal Reserve Inflation Recession Interest Rates
Copyright 2022 The Associated Press. All rights reserved

Asian stock markets tumbled Thursday after the Federal Reserve added to recession fears by saying it wasn't finished raising U.S. interest rates to cool inflation.

Hong Kong's benchmark lost 2.9%. Shanghai and Sydney also followed Wall Street lower after the Fed on Wednesday raised its key rate to a 15-year high.

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