Dow Jones erased earlier gains and ended lower after Powell said he won’t rule out raising rates at every FOMC meeting this year. Tesla earnings beat. Asia-Pacific markets opened cautiously.
The Nasdaq 100 index fell over 1% as investors mulled rising inflationary pressures and future rate hikes. Upbeat earnings from BoA, Morgan Stanley and P&G failed to lift the broader market. Asia-P.
Major US indices fell on Wednesday after the FOMC meeting minutes hinted at scaling back asset purchases before the end of this year. The DXY US Dollar index climbed. Asia-Pacific markets look set .