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Asian stocks mixed ahead of Fed rate hike decision

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, a trader works on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A currency trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), center left, and the exchange rate of South Korean won against the U.S. dollar, center right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A currency trader stretches while working at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, a trader works on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A currency trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), center left, and the exchange rate of South Korean won against the U.S. dollar, center right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A currency trader stretches while working at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, a trader works on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A currency trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), center left, and the exchange rate of South Korean won against the U.S. dollar, center right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A currency trader stretches while working at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Ahn Young-joon) A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, June 16, 2022. Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. (AP Photo/Kin Cheung) As the Federal Reserve announces a rate change, a trader works on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, a trader works on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, a trader works on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, a trader works on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, a trader works on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) Traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. U.S. stocks are rallying Wednesday and are on track for their first gain in six days. But more turbulence may be ahead when the Federal Reserve announces in the afternoon how sharply it's raising interest rates. (AP Photo/Seth Wenig) FILE - The New York Stock Exchange logo adorns a trading post on the floor of the Exchange on March 16, 2022, in New York. Stocks are opening higher on Wall Street Wednesday, June 15, but remain sharply lower for the week as trading remains volatile ahead of a closely watched decision later in the day on interest rates from the Federal Reserve. (AP Photo/Richard Drew, File) FILE - The New York Stock Exchange logo adorns a trading post on the floor of the Exchange on March 16, 2022, in New York. Stocks are opening higher on Wall Street Wednesday, June 15, but remain sharply lower for the week as trading remains volatile ahead of a closely watched decision later in the day on interest rates from the Federal Reserve. (AP Photo/Richard Drew, File) A tour group stops in front of the New York Stock Exchange in New York, Tuesday, June 14, 2022. Wall Street is wobbling between gains and losses Tuesday in its first trading after tumbling into a bear market on worries about a fragile economy and rising rates. (AP Photo/Seth Wenig) A tour group stops in front of the New York Stock Exchange in New York, Tuesday, June 14, 2022. Wall Street is wobbling between gains and losses Tuesday in its first trading after tumbling into a bear market on worries about a fragile economy and rising rates. (AP Photo/Seth Wenig) A woman wearing a face mask stands in front of a bank's electronic board showing the Hong Kong share index in Hong Kong, Wednesday, June 15, 2022. Asian stock markets were mixed Wednesday ahead of the Federal Reserve's announcement of how sharply it will raise interest rates to cool U.S. inflation. (AP Photo/Kin Cheung) A man wearing a face mask stands in front of a bank's electronic board showing the Hong Kong share index in Hong Kong, Wednesday, June 15, 2022. Asian stock markets were mixed Wednesday ahead of the Federal Reserve's announcement of how sharply it will raise interest rates to cool U.S. inflation. (AP Photo/Kin Cheung) A man wearing a face mask stands in front of a bank's electronic board showing the Hong Kong share index in Hong Kong, Wednesday, June 15, 2022. Asian stock markets were mixed Wednesday ahead of the Federal Reserve's announcement of how sharply it will raise interest rates to cool U.S. inflation. (AP Photo/Kin Cheung) A man wearing a face mask stands in front of a bank's electronic board showing the Hong Kong share index in Hong Kong, Wednesday, June 15, 2022. Asian stock markets were mixed Wednesday ahead of the Federal Reserve's announcement of how sharply it will raise interest rates to cool U.S. inflation. (AP Photo/Kin Cheung)
Asian stocks mixed ahead of Fed rate hike decision