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- Geoffrey Hinton, soft-spoken godfather of AI
- Duo wins Physics Nobel for 'foundational' AI breakthroughs
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- 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
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- 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
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- 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
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- Too hot by day, Dubai's floodlit beaches are packed at night
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- 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
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- DR Congo to begin mpox vaccination campaign Saturday in east
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Markets drop as Fed worries offset China's Covid easing
Stock markets mostly fell on Tuesday as fears that the US Federal Reserve will maintain its aggressive anti-inflation measures trumped growing optimism over China's economic reopening.
London, Paris and Frankfurt were all in the red at around midday.
Asian markets were mostly down after all three main indexes on Wall Street lost more than one percent the day before.
Data showing a forecast-busting jump in activity in the US services sector last month raised the prospect that the Fed will not back down from sharp rate increases when it meets next week.
Monday's data followed robust jobs figures last week that could give the central bank more room to manoeuvre, fuelling investor concerns that the Fed's actions could tip the economy into recession.
"Worries that the Fed could unwrap an unwelcome present of another super-sized rate hike when policymakers meet next week are sprinkling Christmas fear on indices," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
"Speculation is swirling that central banks will have to be more Scrooge-like and make borrowing even more expensive to rein in inflation," she said.
Markets had been running higher ahead of the jobs figures after a surprise drop in inflation and comments from Fed boss Jerome Powell that the bank was likely to raise rates at a slower pace.
"Outstanding news from the vast services-based US economy is devastating for market participants keen to see evidence of the US economic disintegration," said SPI Asset Management's Stephen Innes.
Bets have increased on borrowing costs rising higher than five percent next year -- from the current range of 3.75-4.0 percent -- before the bank pauses, with no cuts seen until 2024.
Investors have also been tracking China's zero-Covid policies, which have hammered the world's second biggest economy.
Hong Kong dropped after soaring around 15 percent over the past week on China's easing of strict Covid containment measures.
The dollar lost ground against other major currencies after gains on Monday.
Crude prices fell more than one percent over concerns that higher interest rates could slow the global economy, which would affect oil demand.
- Key figures around 1150 GMT -
London - FTSE 100: DOWN 0.4 percent at 7,539.62 points
Frankfurt - DAX: DOWN 0.3 percent at 14,405.66
Paris - CAC 40: DOWN 0.3 percent at 6,675.04
EURO STOXX 50: DOWN 0.3 percent at 3,946.83
Tokyo - Nikkei 225: UP 0.2 percent at 27,885.87 (close)
Hong Kong - Hang Seng Index: DOWN 0.4 percent at 19,441.18 (close)
Shanghai - Composite: FLAT at 3,212.53 (close)
New York - Dow: DOWN 1.4 percent at 33,947.10 (close)
Euro/dollar: UP at $1.0513 from $1.0495 on Monday
Dollar/yen: DOWN at 136.34 yen from 136.78 yen
Pound/dollar: UP at $1.2216 from $1.2186
Euro/pound: UP at 86.08 pence from 86.06 pence
West Texas Intermediate: DOWN 1.3 percent at $75.97 per barrel
Brent North Sea crude: DOWN 1.2 percent at $81.70 per barrel
M.Anderson--CPN