Global stocks sink after Fed's hike signal
SEOUL, South Korea (AP) — Global stocks slumped Thursday after the U.S. Federal Reserve raised its key interest rate and said it would pick up the pace of future increases.
KEEPING SCORE: In early trading, Britain's FTSE 100 retreated 0.7 percent to 7,653.22 and France's CAC 40 fell 0.4 percent to 5,429.86. Germany's DAX was down 0.3 percent to 12,847.45. Futures indicated a lackluster start on Wall Street. Futures for the Standard & Poor's 500 index and Dow were flat.
ASIA'S DAY: Japan's Nikkei 225 sank 1 percent to 22,738.61 while South Korea's Kospi plunged 1.8 percent 2,423.48. Hong Kong's Hang Seng index dropped 0.9 percent to 30,440.17 and the Shanghai Composite Index was down 0.2 percent to 3,044.16.