ASX set to slump, Wall Street falls as Fed chief spooks investors; Microsoft AI chief sends Anthropic warning

ASX set to slump, Wall Street falls as Warsh spooks investors after Fed raises rates

US stocks fell after the Federal Reserve hiked its main interest rate for the first time in three years and suggested more may be ahead as it tries to get the nation’s high inflation under control.

ASX set to slump, Wall Street falls as Warsh speaks after Fed raises rates

The US stock market has pared some early gains after the Federal Reserve showed it’s trying to get the nation’s high inflation under control by hiking interest rates for the first time in three years.