Fed interest rates, Wall Street, currencies, yields

The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020.Toru Hanai | Bloomberg via Getty ImagesShares in the Asia-Pacific traded lower Wednesday, following Wall Street’s negative lead ahead of the Federal Reserve’s expected rate hike.The Nikkei 225 in Japan dropped 1.24%, while the Topix index fell 1.18%. In Australia, the S&P/ASX 200 slipped 1.49%.Hong Kong’s Hang Seng index fell 1.51%, and the Hang Seng Tech index dropped 2.48%. In mainland China, the Shanghai Composite lost 0.56% and the Shenzhen Component was 1.166% lower.South Korea’s Kospi declined 0.9%. MCSI’s broadest index of Asia-Pacific shares outside Japan shed 1.13%.”A sourer tone took hold over the past 24 hours, with equities lower and haven currencies, including the dollar, stronger,” Taylor Nugent, economist at National Australia Bank, wrote in a Wednesday note.The Dow Jones Industrial Average dropped 313.45 points, or 1.01%, to 30,706.23. The S&P 500 slid 1.13% to 3,855.93 and the Nasdaq Composite slumped 0.95% to 11,425.05. The dollar index strengthened above the 110 level.— CNBC’s Samantha Subin and Jesse Pound contributed to this report.

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