Australia Shares to Drop Following Fed's Rate Increase
Dow Jones
2 hours ago
2247 GMT - Australian stocks look set to drop at the open after the U.S. Federal Reserve raised interest rates for the first time since 2023. Local equity futures are down by 0.8% ahead of Thursday's session, suggesting that the S&P/ASX 200 will follow U.S. indices lower amid growing expectations that the Fed will raise rates at least once more in 2026. The DJIA fell 1.2%, the S&P 500 lost 0.5%, and the Nasdaq Composite edged less than 0.1% lower. The ASX 200 is coming off a 0.3% rise but the benchmark index is still down by 4.2% so far this month as investors prepare for higher rates at home and overseas. Flight Centre and South32 are among Australian stocks set to trade ex-dividend.
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