Stocks in Asia were poised for losses, tracking a decline on Wall Street after the Federal Reserve raised interest rates for the first time since 2023 and signaled further tightening to curb inflation. The dollar gained the most since June.

Equity-index futures for Australia, Hong Kong and South Korea pointed lower, while those for Japan showed a modest gain. US stock contracts were little changed after the S&P 500 Index fell to its lowest since July, while the Nasdaq 100 Index ended little changed after an index of semiconductor stocks advanced for a second session.

Federal Reserve Chairman Kevin Warsh said the decision was a "sober decision, serious decision, responsible decision."