Fed rates, Wall Street, currencies, yields

The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, November 30, 2020.

Toru Hanai | Bloomberg via Getty Images

Asia-Pacific shares traded lower on Wednesday, following Wall Street’s negative lead ahead of the Federal Reserve̵[ads1]7;s expected rate hike.

Japan’s Nikkei 225 fell 1.24%, while the Topix index fell 1.18%. In Australia, the S&P/ASX 200 fell 1.49%.

Hong Kong’s Hang Seng Index fell 1.51%, and the Hang Seng Tech Index fell 2.48%. In mainland China, the Shanghai Composite lost 0.56% and the Shenzhen component was 1.166% lower.

South Korea’s Kospi fell 0.9 percent. MCSI’s broadest index of Asia-Pacific shares outside Japan fell 1.13%.

“A sourer tone took hold over the past 24 hours, with shares lower and safe-haven currencies, including the dollar, stronger,” Taylor Nugent, an economist at National Australia Bank, wrote in a Wednesday note.

The Dow Jones Industrial Average fell 313.45 points, or 1.01%, to 30,706.23. The S&P 500 fell 1.13% to 3,855.93 and the Nasdaq Composite fell 0.95% to 11,425.05. The dollar index strengthened above the 110 level.

— CNBC’s Samantha Subin and Jesse Pound contributed to this report.

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