Asian shares mostly lower despite Dow's push over 36,000
ABC News
Shares are mostly lower in Asia, weighed down by concerns over disrupted supply chains and shipping, despite the Dow Jones Industrial Average's first close above 36,000 points
Shares were mostly lower in Asia on Wednesday, weighed down by concerns over disrupted supply chains and shipping, despite the Dow Jones Industrial Average’s first close above 36,000 points.
Benchmarks fell in most major markets apart from Sydney and Taipei. Tokyo's markets were closed for a holiday.
Investors hit the pause button while awaiting comments from the Federal Reserve’s policy meeting Wednesday, when the central bank is expected to disclose plans to ease the extraordinary support measures to shore up markets and the economy during the pandemic.
The Fed's chair, Jerome Powell, has signaled the Fed will announce after its policy meeting that it will start paring its $120 billion in monthly bond purchases as soon as this month. Those purchases are intended to keep long-term loan rates low to encourage borrowing and spending.
