Asian stock markets are trading mostly lower on Tuesday, extending the sell-off in the previous session, following the broadly negative cues from the global markets overnight, as rising worries about global economic slowdown, higher bond yields and looming aggressive interest rate hikes triggered heavy selling across the board. The Asian markets closed mostly sharply lower on Monday.
The US Federal Reserve is scheduled to announce its latest monetary policy decision on Wednesday, with the central bank expected to continuing raising interest rates in an effort to combat inflation. It is widely expected to raise rates by 50 basis points.
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