- Trump secretly sent Covid tests to Putin: Bob Woodward book
- Neural networks, machine learning? Nobel-winning AI science explained
- Boeing delivers 27 MAX jets in September despite strike
- Stock markets diverge as Hong Kong sinks, oil prices fall
- US trade gap narrowest in five months as imports slip
- Stay and 'you are going to die': Florida braces for next hurricane
- Geoffrey Hinton, soft-spoken godfather of AI
- 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
Stock markets track Wall St down on inflation fears
Equity markets dropped and the dollar edged up Monday after a forecast-beating US inflation reading dampened hopes for a more dovish tilt by the Federal Reserve in its battle against soaring prices.
The producer price index reading for November followed data showing the jobs market remained tight, suggesting the central bank would likely need to keep hiking interest rates.
Investors are now looking to the release later on Monday of key consumer price index figures, which comes ahead of the Fed's next policy meeting.
A below-forecast print for October's CPI sparked a rally on markets last month as investors bet on a shorter pace of rate hikes, though concerns about a recession continue to weigh on sentiment.
"An ominous feeling is consuming markets ahead of this week's crucial CPI report and (Fed policy) meeting," said Stephen Innes at SPI Asset Management.
"While headline inflation continues to drop, the top-side beat on PPI expectations suggests that while inflation might climb down the mountain, the slope remains very uncertain."
Policy decisions in the United Kingdom, the European Union and several other economies are also due this week.
All three main indexes on Wall Street fell Friday, and Asia followed suit.
Hong Kong led the way down -- shedding more than two percent -- having surged last week, while Tokyo, Shanghai, Sydney, Seoul, Singapore, Taipei and Wellington were also in the red.
London opened lower even as data showed the UK economy grew more than expected in October. Paris and Frankfurt also slipped.
The dollar extended Friday's gains against most of its peers, having surged for much of the year owing to the Fed's sharp rate hikes.
Chris Weston, at Pepperstone Group, added that should core consumer prices go above 6.3 percent "then the US dollar should rally hard, and equity should find decent sellers".
"Conversely, a read below six percent would be a surprise and the US dollar bears should find comfort in that."
Investors are also keeping an eye on developments in China as it moves away from the zero-Covid policy that has hammered its economy, the world's second-largest.
The shift comes after widespread protests against the near three-year strategy, though there is concern about the expected spike in infections.
"One official was quoted as saying the mortality rate from Omicron is around 0.1 percent, similar to the common flu and that most people recover within 7-10 days," said National Australia Bank's Tapas Strickland.
"The change in language continues the tentative pivot from China over the past few weeks, both in rhetoric around the virus, and also in the easing of restrictions."
- Key figures around 0820 GMT -
Tokyo - Nikkei 225: DOWN 0.2 percent at 27,842.33 (close)
Hong Kong - Hang Seng Index: DOWN 2.2 percent at 19,463.63 (close)
Shanghai - Composite: DOWN 0.9 percent at 3,179.04 (close)
London - FTSE 100: DOWN 0.3 percent at 7,353.72
Euro/dollar: DOWN at $1.0526 from $1.0534 on Friday
Dollar/yen: UP at 136.74 yen from 136.57 yen
Pound/dollar: DOWN at $1.2243 from $1.2262
Euro/pound: UP at 85.94 pence from 85.90 pence
West Texas Intermediate: UP 0.7 percent at $71.53 per barrel
Brent North Sea crude: UP 0.5 percent at $76.47 per barrel
New York - Dow: DOWN 0.9 percent at 33,476.46 (close)
T.Morelli--CPN