Global Stocks Mixed After Bank of Japan Rate Hike

Global stocks ended mixed on Friday, despite a Bank of Japan interest rate hike that was expected by markets. The Dow finished modestly lower, while the Nasdaq edged higher.

Analysts said investors greeted the Federal Reserve's decision to lift rates as a sign it is serious about countering inflation, but this didn't necessarily change the fact that yields continue to move higher at elevated levels and there is still geopolitical uncertainty.

The Bank of Japan raised interest rates to 1.25 per cent in a 7-2 majority vote, but the yen sank against the dollar on fears the pace of hikes might be slower than expected.