Global equities lost ground on Wednesday (May 1), snapping a three-day winning streak after the United States (U.S.) Federal Reserve held rates steady as expected, but comments from Fed Chairman Jerome Powell cast doubt on whether the central bank’s next move would be a rate cut, Reuters reported. The Fed made no move on interest rates as policy makers took heart in continued U.S. job gains and economic growth and held out hope that weak inflation will edge higher.

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