Markets fell after projections showed half of Federal Open Market Committee members who submitted forecasts expected another increase before the end of the year.
US stocks fell after updated projections showed that nine out of 18 FOMC members expected a rate hike by the end of the year. The shift suggested the Federal Open Market Committee, the Fed's rate-setting panel, still saw upside risk to inflation and the possibility of tighter monetary policy, a backdrop that typically pressures equities by raising borrowing costs and weighing on risk appetite.