Aussie index to open down 85 points

Here are GFT’s current pre-open calls for the ASX 200, KOSPI and Nikkei 225:

ASX 200: 6595 Down 85 points

KOSPI 1865 Down 60 points

NIKKEI 15560 Down 484 points

The markets face a sombre opening with disappointment following the Fed’s decision to cut rates by only a quarter of a percent, less than the 50 basis points many were hoping for.

Fed funds futures had been pricing in around a 25% chance of a half point cut, so now we will see the unwinding of that false hope.