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- Vietnam, China hold talks on calming South China Sea tensions
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- China-EU EV tariff talks in Brussels end with 'major differences': Beijing
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- China offers $325 bn in fiscal stimulus for ailing economy
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- Boeing to cut 10% of workforce as it sees big Q3 loss
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- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- 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
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Global stocks mostly drop on eve of US inflation
World stock markets mostly dropped Tuesday on the eve of key inflation data in the United States, while traders also tracked President Joe Biden's efforts to raise the US debt ceiling.
London stocks fell into negative territory in morning deals as investors returned from a long holiday weekend marking the coronation of King Charles III.
Frankfurt and Paris both accelerated losses in early afternoon eurozone trade, after a largely downbeat Asian session as investors awaited inflation data that will shape the Federal Reserve's monetary policy outlook.
The dollar wobbled following strong gains in the wake of Friday's solid US labour market figures, while oil prices dropped on Chinese data suggesting that recovery in the world's number two economy was still taking time.
Focus is now on Wednesday's consumer price index report for April and the following day's wholesale prices data.
- Fed interest-rate plans -
"US inflation data... will play a key role in shaping the Fed's interest rate plans moving forward," said Nigel Green, head of financial advisory firm deVere Group.
A drop in the inflation reading in recent months has fanned hopes that the Fed will soon pause its tightening campaign and even begin cutting by the end of the year, with the banking crisis reinforcing that view.
After lifting borrowing costs last week, officials hinted at a possible hold at their June meeting.
"Investors await tomorrow's release of inflation numbers in the hope that a clearer picture will start to emerge regarding the Federal Reserve's stance in the second half of the year," added ActivTrades analyst Ricardo Evangelista.
"Last week the US central bank hiked rates for what many believe will be the last time in the current cycle and tomorrow's release of CPI figures could reinforce that scenario, should core inflation start to drop."
Traders are also keeping tabs on Washington as Biden prepares to talk to congressional leaders, with a debate raging on raising the nation's debt ceiling.
There are worries that lawmakers will fail to reach a deal to increase the amount the country can borrow to meet its repayment obligations, with right-wing Republicans determined to secure spending cuts.
Treasury Secretary Janet Yellen has warned the government could hit its limit by the start of June, adding that "financial and economic chaos would ensue" if a deal was not reached.
Markets remain mindful over last week's upheaval in the US banking sector, which hammered financial stocks.
In Asia on Tuesday, Hong Kong and Shanghai equities sank as Chinese data showed April exports rising more than expected but slowing from March, while imports plunged far more than expected.
Tokyo was the outlier, jumping on strong Japanese earnings.
- Key figures around 1115 GMT -
London - FTSE 100: DOWN 0.4 percent at 7,747.43 points
Frankfurt - DAX: DOWN 0.2 percent at 15,915.46
Paris - CAC 40: DOWN 0.8 percent at 7,380.05
EURO STOXX 50: DOWN 0.3 percent at 4,336.91
Tokyo - Nikkei 225: UP 1.0 percent at 29,242.82 (close)
Hong Kong - Hang Seng Index: DOWN 2.1 percent at 19,867.58 (close)
Shanghai - Composite: DOWN 1.1 percent at 3,357.67 (close)
New York - Dow: DOWN 0.2 percent at 33,618.69 (close)
Euro/dollar: DOWN at $1.0981 from $1.1004 on Monday
Pound/dollar: DOWN at $1.2615 from $1.2618
Dollar/yen: DOWN at 135.04 yen from 135.10 yen
Euro/pound: DOWN at 87.05 pence from 87.21 pence
West Texas Intermediate: DOWN 0.9 percent at $72.47 per barrel
Brent North Sea crude: DOWN 1.0 percent at $76.33 per barrel
L.Peeters--CPN