Business
ASX starts lower; Iron ore miners, CSL, tech stocks dive – The Sydney Morning Herald
The ASX opened 0.6 per cent lower as the iron ore miners, CSL, and tech stocks took a tumble. Wall Street retreated after the US Fed took on a dovish tone.
The Federal Reserve kept interest rates pinned near zero on Wednesday (US time) and promised to keep them there until inflation is on track to “moderately exceed” the US central bank’s 2 per cent inflation target “for some time.”
The change in guidance is part of a monetary policy shift announced by the Fed last month that is aimed to offset years of weak inflation and allow the economy to keep adding jobs for as long as possible. But it came at the cost of two dissents, one from a policymaker …
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