Australia's share market is edging lower after hawkish signals from the new US Federal Reserve chair prompted a sell-off on Wall Street.
The S&P/ASX200 fell 39.3 points by midday on Thursday to be down 0.44 per cent to 8,927, as the broader All Ordinaries slipped 39.9 points lower, down 0.43 per cent, to 9,146.
"US equity markets closed lower overnight after this morning's Federal Open Market Committee meeting delivered a hawkish surprise that triggered a sell-off in stocks and a sharp rally in US yields and the US dollar," IG market analyst Tony Sycamore said.
"This time around, nine of the 19 officials see at least one rate hike by the end of the year, and the policy statement notably removed earlier language around potential cuts."
