Stock market today: Asian shares advance after the Federal Reserve raises interest rates

Asian shares are mostly higher after the Federal Reserve raised interest rates to their highest level in more than two decades, as expected. Market attention turned to a decision later in the day by the European Central Bank and to whether Japan’s central bank might alter its longstanding ultra-lax monetary policy at a policy meeting that ends on Friday. On Wednesday, the S&P 500 slipped less than 0.1%, remaining near a 15-month high. The Dow Jones Industrial Average rose 0.2% and the Nasdaq composite slipped 0.1%. Fed Chair Jerome Powell said no decision has been made about whether to raise rates at its next meeting or beyond, raising hopes this might be the last for now.