Asia-Pacific Markets Set to Open Lower Ahead of Australia's CPI Report
The Dow Jones Industrial Average slipped 228.50 points, or 0.71%, to 31,761.54. The S&P 500 dipped by 1.15% to 3,921.05, while the Nasdaq Composite fell around 1.87% to 11,562.57.
The Federal Open Market Committee began its meeting on Tuesday stateside and will continue on Wednesday.In corporate news, chipmaker SK Hynix reported 56% growth in operating profit to 4.2 trillion Korean won in the second quarter of 2022 compared to a year ago. Revenue jumped 34% to 13.8 trillion won, helped by the"continued rise of the U.S. dollar," the company said in a statement.
But SK Hynix predicted that memory demand would slow in the second half of the year because shipments of PCs and smartphones are expected to be lower than initial forecasts.Automaker Mitsubishi Motors and miner Rio Tinto are also set to report earnings.
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