Asian markets mixed ahead of Fed decision; Wall Street drops

Asian stock markets showed mixed performance on Wednesday as investors awaited the U.S. Federal Reserve’s interest rate decision.

Japan’s Nikkei 225 fell 0.3% to 37,751.88 after the Bank of Japan kept its benchmark rate at 0.5%. The country posted a trade surplus in February, driven by an 11% rise in exports ahead of U.S. tariff hikes. Meanwhile, the yen weakened to 149.61 per U.S. dollar, benefiting exporters but reducing purchasing power.

Compare Top Forex brokers and start trading and investing with a trusted partner

In other markets, Hong Kong’s Hang Seng inched up 0.1%, while China’s Shanghai Composite dipped 0.1%. Australia’s ASX 200 lost 0.4%, while South Korea’s Kospi rose 0.6%.

On Wall Street, the S&P 500 slid 1.1%, the Dow Jones fell 0.6%, and the Nasdaq dropped 1.7%, with Tesla (-5.3%) and Alphabet (-2.2%) among the biggest decliners. AI and tech stocks also took a hit, with Nvidia falling 3.3%.

Investors are closely watching the Fed’s economic outlook, though no rate change is expected. Meanwhile, oil prices declined, with U.S. crude at $66.46 per barrel and Brent at $70.26.