In overseas stock markets, Asian and European stocks edged lower after the Bank of Japan unexpectedly held off from expanding monetary stimulus. Japanese stocks led losses for Asian equities. The Nikkei 225 Average ended 3.61% lower. The Bank of Japan (BOJ) voted to keep its current level of asset purchases unchanged and rates on hold while announcing a ¥300 billion ($2.69 billion) lending program to support banks in the region hit by this month's Kyushu earthquake. Speculation was rise that the Japanese the central bank would announce a further easing of the monetary policy to stimulate Japan's economy. BOJ Governor Haruhiko Kuroda was quoted as saying that the BOJ will do whatever it takes to reach its 2% inflation target and that there are no limits to monetary policy measures.
Trading in US index futures indicated that the Dow Jones Industrial Average could fall 130 points at the opening bell today, 28 April 2016. US stocks closed mostly higher yesterday, 27 April 2016, but the gains were checked by weakness in the technology sector. Meanwhile, the Federal Reserve left interest rates unchanged after the conclusion of a two-day monetary policy meeting yesterday, 27 April 2016. The Fed's signal that it was in no rush to raise rates relieved investors.
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