Stock Market Live Updates: Asian markets drop on hawkish Federal Reserve signals and China stress

Stock to buy today: HP Adhesives (₹503)

HP Adhesives’ stock bottomed out in March this year after taking support at ₹310. Since then, it has been steadily appreciating. Notably, it broke out of the key ₹500 resistance on Monday, opening the door for further upside. But the stock saw a decline on Wednesday.

US stock and bond sell-off impact Asian shares

Equity markets in Japan and South Korea initiated the trading day with downward momentum, and futures agreements for key benchmarks in Hong Kong experienced a decline. Meanwhile, a measurement of regional stock performance indicated a continuation of losses for the fifth consecutive session. On Wednesday, the S&P 500 recorded a decrease of 0.76%, the Dow Jones index saw a decline of 0.52%, and the Nasdaq 100 registered a substantial drop of 1.15%.

Wall Street ends lower after Fed minutes cloud outlook for rates

Wall Street ended lower on Wednesday after the Federal Reserve’s minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting.

The minutes of the Fed’s July monetary policy meeting showed most policymakers continue to prioritize the battle against inflation, adding to uncertainty among investors about the outlook for interest rates.

The Nasdaq Composite dropped 156.42 points, or 1.15%, to 13,474.63, while the Dow Jones Industrial Average fell 180.65 points, or 0.52%, to 34,765.74 points.