- Three-time NBA champion Green retires
- S.Sudan floods affect 893,000, over 241,000 displaced: UN
- Solar storm could impact US hurricane recovery efforts: agency
- Windies sweat on injury to 'crucial' Taylor at World Cup
- Lebanon says 11 dead, 48 injured in Israeli strikes on Beirut
- Panama lashes out at EU over tax haven 'outrage'
- Erdogan says Gaza 'shame of humanity', calls for permanent ceasfire
- TD Bank to pay more than $3 bn to US in money-laundering case
- SAfrica prosecutors drop criminal complaint against president
- 'Good opportunity': Nagelsmann upbeat despite Germany's long injury list
- Hurricane whips up bitter US election battle
- Cameroon bans media talk of president's health amid rumours
- NFL MVP Jackson and rookie phenom Daniels set for showdown
- Chad's capital under threat as floodwaters rise
- Lebanon state media says Israeli strikes hit central Beirut
- No answers on strike on reporters in Lebanon one year on: watchdog
- Ramharack picks four wickets as Windies beat Bangladesh in Women's T20 World Cup
- France's City of Light switches to climate-resilient power cables
- Djokovic hails Nadal 'legacy' as Alcaraz in 'shock' over retirement
- Obama hits campaign trail for Harris
- Delta eyes Election Day travel pullback as profits climb
- Djokovic tells Nadal: 'Your legacy will live forever'
- Ethel Kennedy, wife of RFK, dead at 96
- Zelensky denies ceasefire with Russia under discussion on trip
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- After long fight for glory, Nadal leaves with a legacy of memories
- Home hopes Zheng and Wang through to last-eight in Wuhan Open
- UN peacekeepers say Israel fired on Lebanon HQ, injuring 2
- UK's William and Kate in first joint public engagement since cancer treatment
- Alcaraz out as top players pay tribute to Nadal at Shanghai Masters
- Racing's Farrell 'not thinking' about British and Irish Lions
- Alcaraz, Sinner pay tribute to 'unbelievable' Nadal at Shanghai Masters
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- After K-pop, K-novels? South Korean Nobel win sparks joy, hope at home
- After Nadal exit, Djokovic left to rage against dying of the light
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Triple centurion Brook happy to break Dad's club record
- Zelensky touts 'victory plan' against Russia in Macron talks
- Musk finally unveiling his long-promised robotaxi
- UN peacekeepers accuses Israel of firing on Lebanon HQ
- London's Frieze art fair goes potty for ceramics
- Southgate taking year out from coaching
- US, Europe stocks fall on US inflation data
- Zelensky meets Macron in Paris as part of European tour
- Hurricane Milton shreds Florida stadium roof
- UN probe accuses Israel of seeking to 'destroy' Gaza healthcare
- US consumer inflation eases to 2.4% in September
- England in sight of victory after Brook's triple hundred
- Juventus readmitted to ECA after failed Super League revolt
- World number 2 Alcaraz knocked out of Shanghai Masters by Machac
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Stocks fluctuate on rates outlook, Taiwan quake
Eurozone stocks rose but Wall Street indices wavered Wednesday on the possibility that the European Central Bank might cut interest rates before the US Federal Reserve.
Asian stocks mostly sank on scepticism that the US Federal Reserve will cut its interest rates as much as hoped this year, while a massive earthquake in Taiwan rocked sentiment.
Gold zoomed to an all-time pinnacle at $2,288.40 per ounce in Asian trade on haven demand amid geopolitical tensions and the prospect of rate cuts, extending the precious metal's record run.
Oil prices scored fresh five-month peaks on unrest in the crude-rich Middle East and an OPEC+ call for its members to maintain its strategy of reducing output.
- Euro inflation slows -
The Paris stock exchange gained 0.1 percent and Frankfurt rose 0.2 percent in afternoon deals but London's FTSE 100 index was down 0.3 percent.
Investors seized on data Wednesday showing the eurozone's annual rate of inflation decelerated to 2.4 percent last month from 2.6 percent in February thanks to a continued slowdown in food and drink price increases.
Cooling inflation and a deepening deepening downturn in the manufacturing sector "are cementing expectations that the ECB will start cutting interest rates in June, lifting stocks," City Index analyst Fiona Cincotta told AFP.
The Frankfurt-based institution has held rates steady since October 2023 after an aggressive rate-hiking campaign to tame soaring inflation.
"While the ECB appears on track to kick off its rate-cutting cycle in the current quarter, there are some doubts over whether the Fed will be able to move in the coming months," noted Cincotta.
Traders have pushed global equities higher for months, driven by optimism that the Fed will begin easing its monetary policy as soon as June as US inflation comes back towards officials' two percent target.
But forecast-busting US data on a range of indicators including inflation, factory activity and jobs has dealt a hefty blow to those hopes, and now expectations are beginning to wane.
Wall Street's Dow Jones Industrial Average and the broad-based S&P 500 were flat after the open. The tech-heavy Nasdaq was in the red.
"The market is increasingly expecting fewer rate cuts from the Fed this year, with the first rate cut currently on a knife edge between July and September," said XTB research director Kathleen Brooks.
- Asian struggles -
Markets across Asia struggled.
Tokyo sank around one percent, while Hong Kong, Sydney, Seoul and Manila were off more.
Shanghai, Singapore, Wellington and Jakarta were also well in the red, but Bangkok and Mumbai rose.
Taipei stocks fell after a deadly 7.4-magnitude earthquake just off Taiwan's east coast, which added to the regional uncertainty, though there was some relief that the threat of a tsunami had dissipated.
"Taiwan was rocked by its worst earthquake in 25 years today, sending shockwaves through markets as investors looked to gauge the potential implications to the economy and supply chains," said Scope Markets analyst Joshua Mahony.
- Key figures around 1340 GMT -
New York - Dow: FLAT at 39,169.05 points
New York - S&P 500: FLAT at 5,204.38
New York - Nasdaq: DOWN 0.3 percent at 16,199.49
London - FTSE 100: DOWN 0.3 percent at 7,915.38
Paris - CAC 40: UP 0.1 at 8,141.20
Frankfurt - DAX: UP 0.2 percent at 18,322.12
EURO STOXX 50: UP 0.3 percent at 5,058.17
Tokyo - Nikkei 225: DOWN 1.0 percent at 39,451.85 (close)
Hong Kong - Hang Seng Index: DOWN 1.2 percent at 16,725.10 (close)
Shanghai - Composite: DOWN 0.2 percent at 3,069.30 (close)
Dollar/yen: UP at 151.93 yen from 151.56 yen on Tuesday
Euro/dollar: UP at $1.0787 from $1.0770
Pound/dollar: DOWN at $1.2573 from $1.2578
Euro/pound: UP at 85.79 pence from 85.62 pence
Brent North Sea Crude: UP 0.6 percent at $89.42 per barrel
West Texas Intermediate: UP 0.5 percent at $85.53 per barrel
burs-lth/cw
A.Jones--AMWN