- Despite some hope that a recession will help temper a system of rapid rate hikes, US equities futures shook. The yen strengthened after Japan took action to support it.

- Contracts on the S&P 500 fluctuated between losses and gains following the benchmark's decline on Wednesday after the Fed announced its third consecutive 75 basis-point rate hike and hinted that a fourth could be coming in November.

- After Japan's first intervention since 1998 stabilised the yen's 20% decline versus the dollar this year, the currency increased. The bank of Japan, in contrast to the Fed, resolutely adhered to its ultra-low interest rate policy on Thursday, driving the yen lower against the dollar.

- Following the Federal Reserve's hawkish rate hike, a wave of global central bank tightening occurred, with Switzerland, Norway, and the United Kingdom raising their own borrowing costs as policymakers scramble to contain inflation that is out of control.

- With officials indicating a further 1.25% tightening before year's end, the Fed offered its strongest indication yet that it is willing to endure a recession as the necessary trade-off for recovering control of inflation.