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Markets in Europe and Asia have shot higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates.

Here is what you need to know on Wednesday, September 18: The US Federal Reserve (Fed) will conclude its two-day policy meeting and announce the interest rate decision on Wednesday.

US indexes edged higher as investors waited for a likely interest rate cut from the Fed. The central bank will wrap up its policy meeting at 2 p.m. ET,

European markets fell on Wednesday as investors considered key data and looked ahead to the Federal Reserve interest rate decision.

The US Dollar (USD) retraces and trades below 101.00, as measured by the US Dollar Index (DXY), ahead of the US Federal Reserve (Fed) interest rate decision on Wednesday. The DXY is under pressure near the yearly lows and faces a key moment,

That shouldn't come as too big of a surprise in light of today's impending decision on interest rates.

(Bloomberg) — European stocks fell as attention turned to the Federal Reserve’s highly anticipated interest-rate decision and any signals on its policy outlook. Novo Nordisk A/S shares slipped on worries that Ozempic could be targeted for a US price cut.