The Shanghai Composite Index lost 0.4% to 3,082.12 and the Hang Seng in Hong Kong sank 0.6% to 20,471.54. The Nikkei 225 in Tokyo gained 0.5% to 26,824.46 after the government reported economic output shrank 0.2% in the first three months of 2022. The Dow Jones Industrial Average rose 1.3% to 32,654.59 and the Nasdaq gained 2.8% to 11,984.52. The S&P 500 advanced to 4,088.85 and the Dow Jones. The Fed will “have to consider moving more aggressively” if inflation that is running at a four-decade high fails to ease. . . .
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