- Duo wins Physics Nobel for 'foundational' AI breakthroughs
- German 'Maddie' suspect could be free in 2025 after cleared of separate sex crimes
- China slaps provisional tariffs on EU brandy imports
- Duo wins Physics Nobel for key breakthroughs in AI
- German 'Maddie' suspect could be free soon after cleared of separate sex crimes
- China says to take anti-dumping measures against EU brandy imports
- China stocks rally fizzles on stimulus worries amid Asia retreat
- China stocks rally peters out on stimulus worries amid Asia retreat
- Taiwan's Foxconn says building world's largest 'superchip' plant
- Nobel literature jury may go for non-Western writer
- From Bolivia to Indonesia, deforestation continues apace
- China holds off on fresh stimulus but 'confident' will hit growth target
- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Will Tesla's robotaxi reveal live up to hype?
- 'Invisibility' and quantum computing tipped for physics Nobel
- Oil prices extend gains on Mideast tensions, Wall Street falls
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- Mission to probe smashed asteroid launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Europe's asteroid mission Hera launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- What is microRNA? Nobel-winning discovery explained
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
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US stocks slide on Fed worries as Asian bourses rally
US stocks fell Monday on worries the Federal Reserve will prolong aggressive policies to counter inflation, while Asian bourses rallied on signs China is pivoting from its zero-tolerance Covid policies.
A survey of US services industry companies showed stronger-than-expected activity in November, following Friday's employment report which also topped estimates.
The latest economic reports show "some pretty considerable resilience," said Art Hogan, analyst at B. Riley Financial.
While markets continue to bet on a more modest Fed interest rate hike later this month, traders now see the US central bank lifting its rates to a higher "terminal" level when the cycle of increases is complete, Hogan said.
Major US indices ended decisively in the red following a mixed day in Europe.
Earlier, equity markets in Asia bounced as officials in Beijing and throughout China began easing some pandemic restrictions. Commuters in the Chinese capital were no longer required to show a negative virus test taken within 48 hours to use public transport.
The shift comes after Chinese authorities moved to contain rare public protests over prolonged Covid-19 restrictions.
China's vast security apparatus has acted swiftly to smother the rallies, deploying a heavy police presence while boosting online censorship and surveillance of the population.
Chinese state media, which previously focused on highlighting the dangers of Covid-19, shifted tone as measures were relaxed.
Authoritative business news outlet Yicai on Sunday quoted an unnamed health expert arguing that officials should dial down strict virus rules.
Anticipation of a recovery in Chinese economic activity initially boosted oil prices on Monday, but crude later pulled back as markets appeared to bet that more restrictive US monetary policy could limit petroleum demand.
The entry into force of a price cap on Russian crude agreed by the EU, G7 and Australia came into force and the weekend decision by OPEC and its Russia-led allies to maintain oil output levels also supported prices.
"From the OPEC+ perspective, it can't be easy to make reliable forecasts against that (Russia) backdrop and the constantly evolving Covid situation in China, which currently looks far more promising from a demand perspective," said Craig Erlam, senior market analyst at OANDA trading group.
- Key figures around 2130 GMT -
New York - Dow: DOWN 1.4 percent at 33,947.10 (close)
New York - S&P 500: DOWN 1.8 percent at 3,998.84 (close)
New York - Nasdaq: DOWN 1.9 percent at 11,239.94 (close)
London - FTSE 100: UP 0.2 percent at 7,567.54 (close)
Frankfurt - DAX: DOWN 0.6 percent at 14,447.61 (close)
Paris - CAC 40: DOWN 0.7 percent at 6,696.96 (close)
EURO STOXX 50: DOWN 0.5 percent at 3,956.53 (close)
Tokyo - Nikkei 225: UP 0.2 percent at 27,820.40 (close)
Hong Kong - Hang Seng Index: UP 4.5 percent at 19,518.29 (close)
Shanghai - Composite: UP 1.8 percent at 3,211.81 (close)
Euro/dollar: DOWN at $1.0495 from $1.0535 on Friday
Dollar/yen: UP at 136.78 yen from 134.31 yen
Pound/dollar: DOWN at $1.2186 from $1.2280
Euro/pound: UP at 86.06 pence from 85.79 pence
Brent North Sea crude: DOWN 3.4 percent at $82.68 per barrel
West Texas Intermediate: DOWN 3.8 percent at $76.93 per barrel
burs-jmb/bys
A.Levy--CPN