BEIJING—Global stock markets were mixed Tuesday as investors braced for another sharp interest rate hike by the Federal Reserve to cool inflation.
London and Shanghai advanced while Tokyo and Frankfurt declined. Oil rose nearly $2 per barrel.
Wall Street futures were lower after the benchmark S&P 500 index gained 0.1 percent on Monday.
This week’s Fed meeting is expected to announce a rate hike of up to three-quarters of a percentage point, triple the usual margin. That would put the Fed’s benchmark rate in a range of 2.25 percent to 2.5 percent, the highest since 2018 before the coronavirus pandemic.
Optimists hope for a “Fed dial back,” but mixed reactions suggest sentiments are conflicted, said Tan Boon Heng of Mizuho Bank in a report….