US markets (S&P 500 Index -1.1%) fell as Treasury yields rose ahead of the US Federal Reserve rate decision, due on Thursday (NZDT).
Markets are now perhaps content with a third consecutive 75-basis-points hike from the Fed. Thus, markets are preparing for projections that the central bank will deliver this week concerning its future rate rises, inflation, and economic growth.
Meanwhile, Ford (-12.3%) suffered its worst day since 2011, after warning the market that its supplier costs for the current quarter will be $1 billion more than previously reported. Beyond Meat (-6.0%) also closed lower on the day after the company announced that its Operating Chief Doug Ramsey was suspended after being charged with terroristic threatening and third-degree battery for biting a man’s nose at a college football game.
European markets (Stoxx 600 Index, -1.1%) closed lower as the 2-day the Federal Open Markets Committee (FOMC) meeting gets underway.
New Zealand King Salmon (NZK: NZX)