Global Stocks Slump Amid Fed-Driven Jitters

Thursday,   22-Feb-2018   04:34 PM (IST)

Global stocks were on the backfoot, after minutes of the Federal Reserve's January meeting underlined expectations for faster U.S. interest rate hikes, souring appetite for riskier assets around the world.Asian markets ended broadly lower, with Hong Kong's Hang Seng and Japan's Nikkei 225 faring the worst, closing down around 1.5% and 1.1% respectively.But Chinese markets were in a better mood, returning from their long holiday break with a gain of about 2.2% for the Shanghai blue-chip index.In Europe, stocks were notably weaker in mid-morning trade. The Stoxx Europe 600 index, the region's broadest measure of share prices, fell 0.9%, with all sectors and major bourses in negative territory.Meanwhile, early indications from U.S. futures suggest another day in the red for Wall Street. Dow futures were down nearly 100 points, or around 0.4%, while S&P 500 futures fell 5 points, or about 0.2%. Nasdaq 100 futures lost 30 points, or roughly 0.4%.U.S. stocks ended a tumultuous session firmly lower on Wednesday, with the Dow erasing gains of nearly 300 points following the release of the hawkish Fed minutes.