Asian shares fell Monday after another week of sizable losses on Wall Street, as investors braced for another interest rate hike by the U.S. Federal Reserve.
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Most economists forecast that the Fed will jack up its primary lending rate another three-quarters of a point when the central bank's leaders meet this week. Japan's central bank meets Wednesday and Thursday amid rising pressure to counter a sharp decline in the yen, which is trading near 145 to the dollar after sharp increases in the value of the greenback. That has raised costs for businesses and consumers, who must pay more for imports of oil, gas and other necessities.
The S&P 500 fell 0.7% to 3,873.33. It's now down 18.7% so far this year. The Dow Jones Industrial Average dropped 0.5% to 30,822.42 and the Nasdaq slid 0.9% to 11,448.40.
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