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Normally, after an afternoon decline like we saw on Tuesday, one would expect to see international indices down sharply overnight.

However, in what is may be just one more example of how US markets have become less influential on the global stage, most international indices are holding up relatively well. Even though these markets were closed when the Fed's decision was released, in percentage terms, they are all down less than the S&P 500's decline from Tuesday.

Source: Int'l Indices Unfazed by Fed, US Markets Less Influential on Global Stage