Asian stocks ended mixed on Wednesday after Alphabet and Microsoft reported better than feared quarterly results, helping soothe investor worries over the economic outlook.
Market participants awaited the Fed's interest rate decision later in the day, with a 75 basis point rate hike mostly priced in.
The FOMC statement and accompanying press conference by Fed Chair Jerome Powell will take center stage as bond markets and most economic indicators signal an increased likelihood of recession.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.