Global markets update: US stocks slide ahead of inflation data
inflation data that could provide clues to investors on Federal Reserve’s monetary policy path. The S&P 500 fell 31.47 points, or 0.70%, at 4,467.91 points. The Dow Jones Industrial Average dropped 186.92 points, or 0.53%, at 35,127.57.
The Nasdaq Composite lost 162.31 points, or 1.17%, at 13,723.96. The US dollar rose to 143.70 Japanese yen from 143.39. The euro rose to $1.0976 from $1.0960.
European equities edged higher on Wednesday, led by energy stocks. The pan-European STOXX 600 ended up 0.4%. Britain’s FTSE 100 rose 0.8% at 7,587.30.
Germany’s DAX added 0.5% at 15,852.58. France’s CAC 40 gained 0.7% at 7,322.04. Italian banks gained after the government eased its stance on the windfall tax on lenders.
Euro zone banks rose 1.4%. Italy’s banks-heavy FTSE MIB index added 0.4%. The oil and gas index rallied 2.3% as crude oil prices hit their highest levels since April.
German online takeaway food company Delivery Hero surged 4.7% after it raised its full-year revenue outlook. Hiscox sank 6% after the Lloyd's of London insurer's weaker retail growth outlook. Shares of the world's largest online betting firm Flutter Entertainment fell 4.4% after it posted a 76% jump in half-year core profit but warned of a weaker Australian market outlook.
In Asia, stock markets were mixed on Wednesday. Hong Kong’s Hang Seng index rose 0.3% at 19,246.03. China’s Shanghai Composite dipped 0.5% at 3,244.49.
Japan’s Nikkei 225 fell 0.5% at 32,204.33. Australia’s S&P/ASX 200 index rose 0.4% at 7,338 points. New Zealand's benchmark S&P/NZX 50 index fell 0.3% at 11,838.26 points.
Brent crude for October delivery rose $1.38 to $87.55 a barrel on Wednesday. The US crude oil benchmark for September delivery rose $1.48 to $84.40 a barrel. Natural
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