Business SummaryBrief at 2:58 a.m. EDT

Asian markets traded mixed after Wall Street slipped, following the Federal Reserve’s interest-rate decision—the first hike in three years. U.S. futures were higher nonetheless. The Fed raised its key rate by a quarter of a percentage point to a target range of 3.75%–4%, aiming to rein in inflation that has remained above target. Oil prices steadied after the closure of a key Saudi Arabia pipeline, which had weighed on supply. In U.S. trading, the S&P 500 fell 0.5%, the Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite was mostly flat.