Stock markets across the Asia-Pacific region closed deep in the red on Wednesday as the US Federal Reserve is expected to slash interest rates for the first time since the financial crisis later in the day while US and China met in Shanghai in the latest round of trade negotiations. The Nikkei 225 lost 0.9% to 21,522; the Shanghai Composite index declined 0.7% to 2,933; the Hang Seng index dropped 1.3% to 27,778; the Kospi slid 0.7% to 2,025; and the S&P/ASX 200 fell 0.5% to 6,813.