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ABC News
ABC News
Business
business reporters Nassim Khadem and Michael Janda

Markets as it happened: ASX closes down as US Federal Reserve raises interest rates

US Federal Reserve Jerome Powell United States Interest Rates Michael Janda NAB Nasdaq

The ASX has opened lower after NAB reported a cash profit jump of 17 per cent, but below market expectations, seeing its shares slump more than 7 per cent in morning trade.

US stocks finished at session lows after the US Federal Reserve raised interest rates by another 0.25 of a percentage point to more than 5 per cent.

Follow the day's financial news and insights from our specialist business reporters on our live blog.

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