- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Boys out of critical condition after Zurich stabbings
- Spain logs record summer tourism as inflow draws protests
- Hedi Slimane quits as Celine's artistic director
- Oil prices extend rally on Iran attack
- Spain welcomed record number of tourists this summer
- France says coming tax hikes on the wealthy to be 'temporary'
- Why are Thailand's roads so deadly?
- Oracle to invest $6.5 bn in Malaysian cloud services region
- Parkrun marks 20 years of a free weekly jog, run... or walk
- Oil extends rally after Iran attack, Hong Kong soars again
- Prostitutes, prospectors drive spread in DR Congo mpox capital
- Oil extends rally after Iran attack, Hong Kong resumes surge
- Extreme heat another form of death sentence in Texas jails
- Can music help plants grow? Study suggests sound boosts fungus
- Nike earnings drop, says turnaround will take time
- US dockworkers launch mass strike a month before election
- Iron Dome: Israel's key anti-missile shield
- Cranes stand still as US dockworkers fight for 'future'
- GM reports US sales dip, but says EVs grew
- Sheinbaum takes office as Mexico's first woman president
- Webb telescope detects carbon dioxide on Pluto's largest moon
- Stock markets slump, oil jumps on Middle East concerns
- French PM vows more taxes and spending cuts ahead of budget fight
- Germany inaugurates IBM's first European quantum data centre
- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
- Anger meets tear gas as Nigeria hardship protests fizzle out
- US dockworkers launch mass strike month before election
- Evacuations from Lebanon: what we know
- Feathers fly at Chanel's Paris fashion return
- UAE oil giant ADNOC swoops on German chemicals firm Covestro
- Eurozone inflation falls under 2% for first time since 2021
- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
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Stocks lower as recession fears weigh on sentiment
Stock markets were lower on Wednesday as investors weighed the prospect of recession while inflation soars around the world.
The yen fell to new lows against both the dollar and euro after the Bank of Japan -- in contrast with other central banks -- decided not to raise interest rates to rein in combat runaway consumer prices.
Just a day after the World Bank slashed its forecasts for global growth, the OECD warned that the world economy would pay a "hefty price" for Russia's invasion of Ukraine and inflation would keep rising.
The Paris-based Organisation for Economic Co-operation and Development predicted that the world economy would grow by three percent this year -- much slower than its previous estimate of 4.5 percent in December.
Market sentiment "continues to remain extremely fickle, prone to the ebb and flow of inflation expectations, followed by fears that central banks will overreact in combatting inflation (and) concern about what that might do to global growth," said CMC Markets analyst Michael Hewson.
"This argument over whether we see a recession... is likely to become a lot clearer over the next week or so," he said, pointing in particular to the release of US inflation data on Friday.
European stock markets ended the session in the red and Wall Street was also lower following two days of gains.
Earlier in Asia, stock prices had rallied as China eases Covid lockdown restrictions and is forecast to lift its crackdown on the tech sector.
China's approval of dozens of new video game releases sent shares of some of its biggest tech firms soaring Wednesday.
Global equities have enjoyed some respite in recent weeks from a painful sell-off caused by central bank monetary tightening, in particular by the US Federal Reserve.
The new inflation data on Friday will provide a clearer idea about the pace of future Fed rate hikes.
In Europe, the European Central Bank is on Thursday expected to signal an end to its bond-buying, paving the way for an interest rate increase further down the line.
"The reality for the economy and probably the stock markets is that aggressive central bank rate hikes are likely to take a sharp bite out of household consumption," said SPI Asset Management's Stephen Innes.
Hungarian inflation has reached double figures for the first time in 20 years, official data showed Wednesday.
High oil prices, a major factor behind the surge in inflation, were up again on Wednesday.
- Key figures at around 1540 GMT -
New York - Dow: DOWN 0.2 percent to 33,128.37 points
London - FTSE 100: DOWN 0.1 percent at 7,593.00 (close)
Frankfurt - DAX: DOWN 0.8 percent at 14,445.99 (close)
Paris - CAC 40: DOWN 0.8 percent at 6,448.63 (close)
EURO STOXX 50: DOWN 0.5 percent at 3,788.93
Tokyo - Nikkei 225: UP 1.0 percent at 28,234.29 (close)
Hong Kong - Hang Seng Index: UP 2.2 percent at 22,014.59 (close)
Shanghai - Composite: UP 0.7 percent at 3,263.79 (close)
Dollar/yen: UP at 133.91 yen from 132.62 yen late Tuesday
Euro/dollar: UP at $1.0739 from $1.0715
Pound/dollar: DOWN at $1.2553 from $1.2592
Euro/pound: UP at 85.55 pence from 85.02 pence
Brent North Sea crude: UP 1.6 percent at $122.55 per barrel
West Texas Intermediate: UP 1.5 percent at $121.20 per barrel
burs/spm/jj
A.Levy--CPN