Australian shares are set to fall in line with losses on Wall Street after Federal Reserve policymakers projected that the pace of rate cuts will slow significantly in 2025, and inflation has yet to be vanquished.
The Australian dollar tumbled more than 1 per cent. The US 10-year yield shot to 4.50 per cent at 4pm in New York. US equity volatility surged 74 per cent as the VIX leapt 17.75 points to 27.62.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
