LONDON—Global stock markets traded at fresh record-high levels on Wednesday while the dollar and U.S. Treasury yields ticked down as investors braced for the world’s largest economy to start cutting pandemic-era monetary stimulus.
The U.S. Federal Reserve is expected to announce the tapering of its $120 billion-a-month asset purchase programme in its policy statement at 1800 GMT, a move widely seen as marking a new chapter in the world’s policy response to COVID-19.
