Global Markets Follow Wall St Lower After Fed Bump

A woman wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Friday, March 19, 2021, in Tokyo. Asian stock markets followed Wall Street lower on Friday after rising U.S. bond yields pulled stocks lower, dampening enthusiasm driven by the Federal Reserve's promise of low interest rates. (AP Photo/Eugene Hoshiko)

(AP) — Global stock markets have followed Wall Street lower after rising bond yields dampened enthusiasm about the Federal Reserve’s promise to keep interest rates low. London and Frankfurt opened down, while Shanghai, Tokyo and Hong retreated. Overnight, Wall Street’s benchmark S&P 500 index closed down 1.5% after bond yields rose, which prompted some investors to shift money out of stocks. A day earlier, Wall Street hit a new high after the Fed promised to keep its key interest rate near zero through 2023. That helped to ease fears the U.S. central bank might raise rates in response to stronger inflation.


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