Central Bank of Azerbaijan said strategic foreign-exchange reserves rose by $4.3 bln to $89.4 bln from $85.1 bln at the start of the year.

China International Capital Co said the Fed held in October and retains a firm anti-inflation stance but can be patient. Some previously hawkish officials have moved to a wait-and-see posture, reducing the urgency for consecutive hikes. Since the September increase US financial conditions have tightened marginally and the inflation risk premium has eased, giving the Fed scope to observe policy effects. The report expects one more hike in December followed by a pause, and characterizes the current tightening as more likely moderate and gradual than aggressive. A Fed official announced plans from next year to reduce the frequency of rate votes and to devote some meetings to long-term strategy, continuing efforts to reform the Fed’s policy framework. Near-term risk of surprise additional tightening has declined, though the medium-term stance remains tilted toward tightness.

Alphabet (GOOG.O) extended losses to about 13%, erasing nearly $490 billion of market value.