ASX drops ahead of Fed meeting, tech and energy slump
Cecile LefortMarkets reporter
Shares started the week lower with investors alert that the US central bank could signal further interest rate increases following the rapid rise in oil prices, disappointing investors betting that the tightening cycle was over.
The US Federal Open Market Committee hands down its decision on Wednesday (Thursday AEST) when it is widely anticipated that it will keep rates steady in the 5.25 to 5.5 per cent range for the second consecutive meeting.
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