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Global stocks plunged on Monday ahead of policy settlement by the United States Federal Reserve and the Bank of Japan, and a raft of earnings statements from huge firms.

In Europe, equity markets declined with London’s Financial Times Stock Exchange 100 slipped 0.7 percent to 6,263, France’s CAC 40 dropped 0.6 percent to exchange with 4,545 points, while German DAX 30 lost 0.7 percent to 10,298.

Market players keep a close eye this week on central bank policy meetings in Japan and the United States. Investors will be measuring whether the Bank of Japan boosts more stimuli and whether the Federal Reserve suggests that another rising of interest rates is imminent due to calmer sentiment in the financial markets.

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According to a market analyst, “We could be in for another rocky week in the markets with particular focus back on the central banks as we get the latest monetary policy decisions from the Federal Reserve and Bank of Japan, the latter of which is expected to announce new stimulus measures.”

Japan’s benchmark Nikkei 225 Stock Average slid 0.8 percent to 17,439.30, while South Korea’s Kospi edged 0.1 percent lower to 2,014.55.

Meanwhile, Hong Kong’s Hang Seng sank 0.8 percent to 21,304.44, as the Shanghai Composite Index plummeted 0.4 percent to 2,946.67. Markets in Australia were closed due to a public holiday.

In the United States, equity markets also dipped with Dow Jones Industrial Average futures lost 0.0.9 percent, while the NASDAQ 100 futures tumbled 0.08 percent, and the Standard & Poor’s 500 index dived 0.07 percent.

The United States is slated to publish data on new home sales later in the day, as market players are focusing on the Federal Reserve’s upcoming policy meeting, due to settle on Wednesday for more signs on the pace and timing of future rate hikes.

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