Global Financial Markets React to Federal Reserve and Bank of Japan Decisions

Asian stocks fell as bond yields rose and the dollar neared a two-year high after the U.S. Federal Reserve signaled a slower pace of rate cuts. The Dow Jones dropped significantly, with Treasury yields rising. Investor attention is on the Bank of Japan's upcoming policy decision.

Global financial markets experienced turbulence as Asian stocks declined, bond yields climbed, and the dollar hovered near a two-year peak.

The U.S. Federal Reserve's caution about future rate cuts led to a downturn in U.S. stocks, and traders revising expectations for next year's rate reductions.

With eyes on the Bank of Japan's policy decision, investors are keen to see whether recent yen weakness and a strong dollar will prompt a rate hike.

(With inputs from agencies.)