Shares slipped in Europe and Asia on Thursday as U.S. Treasury Secretary Janet Yellen headed to China seeking to soothe friction between the two largest economies.
A person walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, July 6, 2023, in Tokyo. Asian shares opened lower on Thursday, with Hong Kong's benchmark down 2.5%, after Wall Street drifted downward following a rally that had sent it roaring 16% higher for the year so far. Germany's DAX lost 1% to 15,773.57 and the CAC 40 in Paris gave up 1.7% to 7,190.42. Britain's FTSE 100 dropped 1.2% to 7,352.98.
in mid-June, though in the end they voted unanimously to keep rates steady. The threat of further rate hikes has been weighing on investor sentiment.Markets are also watching for updates from Yellen's talks with Chinese leaders in Beijing. Japan’s Nikkei 225 lost 1.7%, closing at 32,773.02. In Australia, the S&P/ASX 200 dropped 1.3% to 7,157.80 and the Kospi in Seoul lost 1.1% to 2,551.10. India's Sensex gained 0.3%, while shares fell in 1.7% Taiwan and 1.1% in Bangkok.
, which undercut inflation by slowing the entire economy. Much of Wall Street expects the Fed to raise rates later this month and perhaps once more later this year, as the Fed has been hinting.
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