World shares fall, tracking Wall Street dismay over US inflation in Aug ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 19
World markets slipped on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the US economy. European benchmarks were marginally lower while Asia saw bigger losses. US futures edged higher, with the contracts for the Dow industrials and the S and P 500 up 0.3 per cent. European futures were lower. Tuesday's report showed US inflation slowed only to 8.3 per cent in August, instead of the 8.1 per cent economists expected. That dashed hopes that inflation was falling back to more normal levels after peaking in June at 9.1 per cent, allowing the Federal Reserve to moderate its interest rate hikes. Now, traders are bracing

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