- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- 7-Eleven owner restructures to fight takeover
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
- Mumbai mourns Indian industrialist Ratan Tata
- China opens $71 bn 'swap facility' to boost markets
- Asian markets track Wall St record as Hong Kong, Shanghai stabilise
- 'Denying my potential': women at Japan's top university call out gender imbalance
- China's central bank says opens up $70.6 bn in liquidity to boost market
- Youth facing unprecedented wave of violence, UN envoy warns
- 'A casino in every kitchen': Brazil's online gambling craze
- Nobel chemistry winner sees engineered proteins solving tough problems
- Discord seen as online home for renegades
- US forecasts severe solar storm starting Thursday
- Ratan Tata: Indian mogul who built a global powerhouse
- One dead as storm Kirk tears through Spain, Portugal, France
- Indian business titan Ratan Tata dead at 86
- Fed minutes highlight divisions over rate cut decision
Stocks mostly drop, dollar gains on Powell rates warning
Stock markets mainly fell Wednesday and the dollar held near multi-month highs after Federal Reserve boss Jerome Powell warned a quicker pace of interest rate hikes might be needed to tame stubbornly-high inflation.
Paris and London sagged but Frankfurt edged into positive territory on news of rebounding German industrial production.
Asian indices mostly ended lower after the Fed chief on Tuesday dealt a hammer blow to faint hopes that that the US central bank could pause its rate tightening soon.
All eyes are on Wall Street's reopen after it slid Tuesday.
"Hawkish comments yesterday from Federal Reserve chairman... Powell made it perfectly clear that US interest rates would keep going up, potentially faster and harder than markets had previously priced in," noted AJ Bell investment director Russ Mould.
Europe and US stocks already sank Tuesday following Powell's remarks, while the greenback soared on the prospect of US rates reaching levels higher than forecast.
"The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated," Powell said in testimony to US lawmakers.
"If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes."
He added that Fed officials would "stay the course until the job is done".
A string of data in recent weeks has indicated the world's top economy being in rude health.
Investors are now betting on the Fed to lift rates 50 basis points at its meeting this month.
That would be twice as much as its last gathering.
"Given the strength of recent data, the change of tone (by Powell) should not have been surprising," noted CMC Markets analyst Michael Hewson.
US inflation is running above six percent and while that is down from multi-decade peaks seen last year, it is still well above the bank's target of two percent.
Traders eagerly await US monthly jobs data due Friday.
Tokyo's stock market was another rare gainer Wednesday, with exporters profiting from a weaker yen.
The dollar maintained strength Wednesday to hold at multi-month highs against the euro, pound and yen.
A strong US unit is weighing on dollar-denominated crude prices, which become more expensive for customers purchasing in other currencies.
The oil market steadied Wednesday after tumbling more than three percent in the wake of Powell's comments.
- Key figures around 1215 GMT -
London - FTSE 100: DOWN 0.1 percent at 7,911.59 points
Paris - CAC 40: DOWN 0.1 percent at 7,330.63
Frankfurt - DAX: UP 0.3 percent at 15,598.78
EURO STOXX 50: UP 0.1 percent at 4,284.49
Hong Kong - Hang Seng Index: DOWN 2.4 percent at 20,051.25 (close)
Tokyo - Nikkei 225: UP 0.5 percent at 28,444.19 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,283.25 (close)
New York - Dow: DOWN 1.7 percent at 32,856.46 (close)
Euro/dollar: DOWN at $1.0536 from $1.0549 on Tuesday
Pound/dollar: UP at $1.1834 from $1.1830
Euro/pound: DOWN at 89.02 pence from 89.18 pence
Dollar/yen: UP at 137.61 yen from 137.16 yen
West Texas Intermediate: DOWN 0.2 percent at $77.41 per barrel
Brent North Sea crude: UP 0.1 percent at $83.38 per barrel
J.Bondarev--CPN