- 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
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
- Supercharged storms: how climate change amplifies cyclones
Markets mark time ahead to US Fed chair speech
European and US equities moved sideways on Wednesday as investors awaited signals on the next US interest rate hikes.
With the Jackson Hole meeting of central bankers this week, focus is on what US Federal Reserve chief Jerome Powell will say Friday about plans to tackle high prices -- with many fearing higher borrowing costs could send the world's biggest economy into recession in its battle to rein in inflation.
The euro held close to a two-decade low against the dollar, and the greenback struck a two-year peak against China's yuan.
European gas prices rose close to record intraday prices.
- Losing momentum -
"Markets seem to have lost their momentum," noted AJ Bell investment director Russ Mould.
"Investors have become nervous once again, with all eyes on Powell and what he says this coming Friday."
Analyst Patrick O'Hare at Briefing.com said a mountain of expectations were building ahead of Powell's speech.
"Those expectations range from fear of a resolutely hawkish speech to hope of a tempered rate-hike outlook," he said.
Central banks face a delicate balancing act between battling inflation, with Russia's war in Ukraine sending energy prices soaring, and avoiding recession.
Yet concerns are growing that spiking energy costs could still prompt a worldwide downturn.
"Investor anxiety is growing that a combination of central banks raising rates and higher energy prices will tip the global economy into a long recession," said CMC Markets analyst Michael Hewson.
Key markets in Asia slid on Wednesday.
In Europe, London shed 0.5 percent but Frankfurt and Paris were broadly steady.
Wall Street opened narrowly mixed, with the Dow dipping 0.1 percent.
- Rollercoaster ride -
The foreign exchange market has faced a rollercoaster ride so far this week.
The euro tumbled on Tuesday to $0.9901 -- a new two-decade low -- but later clawed back losses as the greenback was hit by poor US economic data.
The dollar had strengthened this week ahead Powell's speech, as markets speculate that the Fed will continue to tighten its monetary policy.
Higher interest rates boost the American currency as they make dollar-denominated debt more attractive to investors.
But the euro also has been weighed down by a gloomy outlook for the eurozone economy amid fears of a halt to Russia's gas deliveries.
Oil was steady following talk of an OPEC output cut, with Brent crude hovering just above $100 per barrel.
"While this may simply be a case of Saudi Arabia talking up the price, for now, the prospect of the group taking such action effectively removes two of the biggest downside risks for prices," said OANDA analyst Craig Erlam.
Oil prices fell back under $100 per barrel this month on worries of a global economic slowdown and the possibility of Iran reaching a deal on its nuclear programme that would end international sanctions on its crude exports.
- Key figures at around 1330 GMT -
London - FTSE 100: DOWN 0.5 percent at 7,454.51 points
Frankfurt - DAX: DOWN 0.1 percent at 13,179.98
Paris - CAC 40: UP less than 0.1 percent at 6,364.87
EURO STOXX 50: UP less than 0.1 percent at 3,654.51
New York - Dow: DOWN 0.1 percent at 32,867.49
Tokyo - Nikkei 225: DOWN 0.5 percent at 28,313.47 (close)
Hong Kong - Hang Seng Index: DOWN 1.2 percent at 19,268.74 (close)
Shanghai - Composite: DOWN 1.9 percent at 3,215.20 (close)
Euro/dollar: DOWN at 0.9925 from 0.9970 on Tuesday
Pound/dollar: DOWN at 1.1763 from 1.1836
Euro/pound: UP at 84.38 pence from 84.23 pence
Dollar/yen: UP at 137.04 yen from 136.36 yen
West Texas Intermediate: UP less than 0.1 percent at $93.80 per barrel
Brent North Sea crude: UP less than 0.1 percent at $100.26
A.Mykhailo--CPN