Asian stock markets are trading mostly lower on Tuesday, despite positive cues from Wall Street overnight after an initial sell-off, as traders are selling off stocks amid fears of inflation and policy tightening by the US Federal Reserve. Concerns over the rapid spread of the coronavirus omicron variant in the region is also denting market sentiment, with strict restriction placed in some countries and its impact on the global economy. Asian stocks ended mostly lower on Monday.
The US Fed is scheduled to begin a two-day meeting later today, with the latest monetary policy decision due Wednesday afternoon. While the Fed is likely to leave interest rates unchanged, the accompanying statement could hint at the first rate hike as early as the next meeting in March.
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