The Hong Kong stock market’s Hang Seng ended lower on Wednesday following the Dow New York Stock Exchange that closed more than 1,100 points on Wednesday, its worst single-day drop since June. Sept. 2020 as investors worry that US inflation is starting to affect retail firms’ earnings. Markets are also under pressure as Federal Reserve Chairman Jerome Powell said the Fed would not hesitate. to raise interest rates as much as necessary to curb inflation.
The Hang Seng Index closed today at 20,120.68, down 523.60, or -2.54%.
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