New year gets off to a weak start as traders eye rate cuts

News Snapshot:

Asian markets fell Tuesday as most traders returned from the New Year’s holiday, anticipating a 2024 marked by a succession of Federal Reserve interest rate decreases but also by economic and political turmoil. Wall Street stumbled last week after a record-breaking run in the previous two months, but economists expect another surge as US monetary policy eases. The release of minutes from the Fed’s December meeting, followed by job creation statistics, will give new insight into the outlook for rates in the coming days. Indications from the bank that it would cut rates three times next year have lit a...