Asian markets fall with Wall Street after Fed rate hike, warning

Hong Kong-Asian markets skidded Thursday, tracking losses on Wall Street after the US Federal Reserve hiked interest rates again and dealt a blow to hopes it could cut them later in the year to soothe worries over the banking sector.
Recent turmoil caused by the collapse of two US lenders and the takeover of Credit Suisse had fanned speculation central banks would pause their inflation-fighting monetary tightening campaign. But on Wednesday, officials announced a ninth straight increase in the cost of borrowing as they put their emphasis on containing prices, though the 25-basis-point rise was half of what was expected at the start of the month.

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