Influenced by the broadly negative cues from global markets overnight, Asian stock markets are trading mostly lower on Wednesday, with traders remaining cautious after the US Fed recently forecast another rate hike before the end of the year and keeping rates at elevated levels for longer than previously anticipated. The US dollar also continued its strength against major currencies in the region. Asian markets closed mostly lower on Tuesday.
JPMorgan Chase CEO Jamie Dimon warned in an interview with The Times of India that rates could go as high as 7 percent.
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