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Asian stocks follow the US lower ahead of Fed interest rate decision

UK: Prime Minister Liz Truss is expected to meet US president Joe Biden on the sidelines of the UN General Assembly, while MPs take their oath of allegiance to King Charles III and Holyrood reaches the deadline set by the Supreme Court for the Scottish National Party to make a written submission over Scotland’s power to set up a second independence referendum.

Germany: Finance minister Christian Lindner will speak to the foreign press association in Berlin. Lindner will discuss the war in Ukraine and the ensuing energy crisis, as well as inflation and the government’s plan to alleviate skyrocketing costs.

Economic news: The governing council of the European Central Bank holds a non-monetary policy meeting in Frankfurt, while the UK publishes public sector net borrowing data for August.

Markets: Futures for the Euro Stoxx 50 were down 0.2 per cent while contracts for the FTSE 100 were flat. Investors will closely watch Wednesday’s interest rate decision from the US Federal Reserve, which is expected to deliver a third consecutive 0.75 percentage point increase. Anticipation of the rise knocked Asian markets lower across the board on Wednesday, after sending the S&P 500 and Nasdaq Composite down 1 per cent and 1.1 per cent, respectively, in the US the day before.

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