Asian stocks slip after Fed raises chance of rate hike

Asian stocks slip after Fed raises chance of rate hike

HONG KONG (AP) — Most Asian stock markets sank on Thursday after the Fed surprised investors by signaling that an interest rate hike is in the cards if economic conditions keep improving.

According to minutes of the Fed's latest meeting, U.S. central bankers feel it would be time to raise rates at the next Fed meeting on June 14-15 if hiring and economic growth continue to strengthen and inflation keeps rising.

The comments took investors by surprise and raise the prospect that some of the loose monetary policy that's supported stock markets globally will be dialed back.