He advising savvy investors to stick with stocks and stay away from bonds as the Federal Reserve steps harder on the accelerator by continuing to raise interest rates. Japan's benchmark slipped as the yen gained against the dollar.
Investors resumed selling the major technology shares that have contributed most to equity records this year, as the threat of higher interest rates prompted a shift from growth into value shares.
However a low unemployment rate upheld the bank's decision, with Federal Reserve Chair Janet Yellen saying: "Our decision ... reflects the progress the economy has made and is expected to make".
(AP Photo/Eugene Hoshiko). A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, June 15, 2017, in Tokyo. The 10-year U.S. Treasury yield dropped by 8 basis points to 2.13% after briefly touching 2.1% earlier on Wednesday, its lowest level of 2017 (bond prices and yields move inversely).
LONDON, June 15 (Reuters) - Stocks fell in Europe and Asia on Thursday as investor concern over the pace of us economic growth overshadowed a widely telegraphed rise in Federal Reserve interest rates that lifted the dollar off recent lows. The pan-European STOXX 600 index dropped 0.5 percent, led lower by the basic resources and oil and gas sectors, as the stronger dollar weighed on metals prices. Shares in Southeast Asia were mostly lower.
The dollar inched higher against a basket of peers, after the Federal Reserve's policy meeting kept up expectations of another interest rate hike this year. It's the third increase in rates by the Fed since December of 2016.
ANALYST VIEWPOINT: "Asian markets were seen broadly lower this morning, taking little cues from overnight markets".
7% of Americans believe chocolate milk comes from brown cows
The astonishing figures were released by the Innovation Center of US Dairy , who surveyed 1,000 Americans over the age of 18. People continue to enjoy a love affiar with cheese - 95% of survey respondents have some type of cheese in their fridge.
Fed officials have also largely dismissed recent slowdowns in the US economic data and inflation as transitory, focusing instead on the 4.3 percent unemployment rate (lowest since 2001) and other evidence of job market tightness.
Utilities and real estate, which are high-dividend paying groups known as "bond proxies", gained 0.6 percent and 0.5 percent, respectively, making them the best performing sectors along with the 0.6 percent rise for industrials.
Even though Shiller believes investors should keep buying stocks here at home and aboard, he acknowledges that a recession could still come at any time.
Euro zone government bond yields edged up in early trade. The Dow closed at a record 21,374.56, but the S&P 500 and Nasdaq saw negative sessions. Home Depot and Goldman Sachs contributed most of the blue-chip index's gain. The Energy Information Administration said oil supplies shrank slightly and gasoline stockpiles grew last week.
ENERGY: Benchmark U.S. crude fell another 23 cents to $44.50 a barrel in NY. It fell $1.73, or 3.7 percent, to settle at $44.73 a barrel in NY.
Brent crude, the worldwide benchmark, was down 12 cents a barrel at $46.88. It had shed $1.72, or 3.5 percent, to close at $47 a barrel in London.
Against its Japanese counterpart, the United States dollar shrugged off earlier losses and was flat at 109.54 yen, above Wednesday's eight-week low of 108.81 yen.