Markets in the red after Fed hints at June rate hike

Dollar reverses gains

The release of surprisingly hawkish minutes from the US Federal Reserve has hit nearly all major equity markets across the globe, with the FTSE 100 and Asian stocks particularly hit.

The Federal Open Market Committee revealed last night that most policymakers believe a June interest rate rise would be "appropriate" if the US economy continues its recent improvement on the back of stronger inflation data this week. This followed a more dovish set of minutes in March, where the Fed, led by chair Janet Yellen (pictured), hinted at a more cautious stance on its path to higher interest rates. FTSE 100 stocks were set to close over 1% in the red, with the index posting a 1.2% loss by 2.44pm to trade around 6,088 points. In Europe, the Euro Stoxx 50 was down 0.9% at 2,91...