European, Asian stocks fall on Fed policy meeting outcome
- 17 Mar 2021
Gulf Today Report
European stocks declined on Wednesday as investors await US Federal Reserve’s policy meeting outcome and BMW recorded gains.
The pan-European STOXX 600 index edged 0.02% lower in early trading.
BMW gained by 1.9% following its expectations of a significant year-on-year increase in group pre-tax profit in 2021 as it forecast a strong performance in all of its segments.
The auto manufacturing sector gained by 0.8% leading the surge in Europe.
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Asian stocks
Asian stocks declined on Wednesday as markets globally await US central bank’s latest assessment on the economy.
Japan's benchmark Nikkei 225 inched down less than 0.1% to finish at 29,914.33. South Korea's Kospi slipped 0.6% to 3,050.17. Australia's S&P/ASX 200 dipped 0.5% to 6,795.20. Hong Kong's Hang Seng edged down nearly 0.1% to 29,014.67, while the Shanghai Composite was little changed, down less than 0.1% at 3,444.70.
Economists are hopeful that Fed Chair Jerome Powell will make an announcement that the central bank will continue to provide support without igniting inflation, thereby, calming jittery financial markets.
