In the global markets, all the attention was turned to the Fed’s interest rate decision.

Global markets are trying to get rid of the negative pricing at the beginning of the week before the Fed’s critical interest rate meeting. Investors expect the Fed to raise rates by 75 basis points in at least one of its three meetings through October to contain the highest inflation in 40 years. The previous expectation for the three meetings was 50 basis point gains each.

While the US 10-year bond yield decreased by five basis points to 3.43 percent before the Fed decision, a 0.2 percent decrease was observed in the Bloomberg Dollar Index. Meanwhile, oil fluctuated, while gold rose by 0.5 percent to $1,815.

In China, economic indicators for May gave mixed signals regarding the country’s economy. Industrial production data pointed to a recovery in May. Industrial production in the country increased by 0.7 percent in May. Economists participating in the survey had expected the increase to be 0.9 percent.