A more hawkish than expected Federal Reserve sent the US dollar and interest rates higher and spurred an equity sell-off. The knock-on effect sent ripples through the capital markets today. Most equity markets in the Asia Pacific region fell. China, Hong Kong, and Taiwan were notable exceptions. Europe's Dow Jones Stoxx 600 is snapping a nine-day advance, with losses led by information technology and utilities. Financials and energy sectors are posting modest gains. US futures are off around 0.3%-0.5%. The US 10-year yield jumped eight basis points yesterday, the most in three months. It is slightly softer today, ... (full story)