- 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
- Leaders of Egypt, Eritrea, Somalia meet amid regional tensions
- Klopp's Red Bull decision 'ruined life's work' say Dortmund fans
- Han Kang wins South Korea's first literature Nobel
- S. Korea's Nobel winner Han Kang a modest, thought-provoking writer
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- The almost impossible job: Beating Rafael Nadal at the French Open
- New French government faces key test with budget plan
- Rescuers say Israeli strike on Gaza school kills 28
- Italy's ex-world champion gymnast Ferrari announces retirement
- Zelensky talks 'victory plan' in meeting with Starmer, Rutte
- South Korea's Han Kang wins literature Nobel
- Federer lauds retiring Nadal's 'incredible achievements'
- Ikea posts fall in annual sales after lowering prices
- Australia beat China 3-1 to resurrect World Cup campaign
- Stock markets diverge, oil gains after China rebounds
- Nadal defied injury woes in record-breaking career
- Nadal v Djokovic, French Open, 2006: Chapter One in epic rivalry
- World can't 'waste time' trading climate change blame: COP29 hosts
- Pakistan at 23-1 after Brook triple hundred takes England to 823-7
- Zelensky meets Starmer, Rutte on whirlwind tour of Europe
- South Korean same-sex couples make push for marriage equality
- Rafael Nadal calls time on epic tennis career
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- Philippines confronts China over South China Sea at ASEAN meet
- Kim Sei-young shoots 62 to take two-stroke lead at LPGA Shanghai
- The haircuts that help traumatised Ukrainian soldiers heal
- Sinner crushes Medvedev to set up potential Alcaraz Shanghai semi
- 7-Eleven owner restructures to fight takeover
- England's Harry Brook blasts triple century against Pakistan
- Chinese electric car companies cope with European tariffs
- Zelensky in London for whirlwind tour of Europe ahead of US vote
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Record-breaking Root, Brook both pass 200 as England pile up 658-3
- Football mourns Greek defender George Baldock's shock death at 31
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
- Home is far away for Madagascar in AFCON qualifying
EU stocks sag on prospect of more Russia sanctions
EU stocks sagged on Tuesday after Brussels proposed further sanctions against Russia in response to killings in the Ukrainian town of Bucha that have prompted international condemnation.
Wall Street also ended lower after a top Federal Reserve official said the central bank could act more aggressively against inflation, while Asian equity markets rose. The dollar was mixed against major rivals.
Frankfurt stocks shed 0.7 percent while Paris slumped 1.3 percent after the European Union signaled it wants to impose sanctions on Russian coal and shipping.
"Tensions between Moscow and the West have ticked up, and that has prompted a decline in equities," said market analyst David Madden at Equiti Capital, pointing to a thinly veiled threat by Russian President Vladimir Putin to withhold food exports to "hostile" nations.
Russia is a major exporter of wheat, as is Ukraine, where production is likely to be severely disrupted due to the invasion.
The EU however did not announce measures targeting Moscow's oil exports.
- 'Pressure is growing' -
Both Brent North Sea and WTI oil contracts dipped on Tuesday, after the prospects of sanctions on Russia crude had sent oil prices sharply higher Monday.
While coal sanctions are likely to have a limited impact, "the pressure is growing for this commitment to be extended to oil and gas supplies," said market analyst Michael Hewson at CMC Markets UK.
"It is becoming ever clearer that Russia is likely to become increasingly more isolated as sanctions get tightened and widened further, with the prospect that inflationary pressure in the global economy will remain more persistent in the coming months," he added.
The additional EU sanctions came days after dozens of bodies were found on the streets in Bucha, northwest of Kyiv, though some countries remain worried of the potential fallout from targeting Russia's economy.
Ukrainian President Volodymyr Zelensky blames Russian troops for the killings, but the Kremlin has denied responsibility.
Meanwhile a source told AFP that the United States, in coordination with the G7 and European Union, plans to ban "all" new investments in Russia on Wednesday, while the US Treasury said Washington has barred Russia from making debt payments using funds held at American banks.
In New York, major stock indices retreated after Fed Governor Lael Brainard said the US central bank was "prepared to take stronger action" to reduce inflation that has hit levels not seen since the 1980s.
The remarks helped lift the yield on the 10-year US Treasury note above 2.5 percent, well above where it was throughout the Covid-19 pandemic.
"We already had the yields moving higher but after Lael Brainard's comments, it just poured some fuel on the fire," said Brad Bechtel, managing director at FX Jefferies.
US traders on Wednesday will be keeping a close eye on the minutes from the Fed's most recent policy meeting, hoping for an insight into officials' thinking over future monetary policy.
After the Fed's expected quarter-point interest rate hike last month, central bankers have signaled a half-point increase is possible in May in light of soaring inflation, as strong jobs growth and other data suggest the US economy remains robust enough to absorb higher borrowing costs.
- Key figures around 2145 GMT -
New York - Dow: DOWN 0.8 percent at 34,641.18 (close)
New York - S&P 500: DOWN 1.3 percent at 4,525.12 (close)
New York - Nasdaq: DOWN 0.8 percent at 14,204.17 (close)
EURO STOXX 50: DOWN 0.8 percent at 3,917.85 (close)
London - FTSE 100: UP 0.7 percent at 7,613.72 (close)
Frankfurt - DAX: DOWN 0.7 percent at 14,424.36 (close)
Paris - CAC 40: DOWN 1.3 percent at 6,645.51 (close)
Tokyo - Nikkei 225: UP 0.2 percent at 27,787.98 (close)
Hong Kong - Hang Seng Index: Closed for a holiday
Shanghai - Composite: Closed for a holiday
Brent North Sea crude: DOWN 0.8 percent at $106.64 per barrel
West Texas Intermediate: DOWN 1.3 percent at $101.96 per barrel
Euro/dollar: DOWN at $1.0903 from $1.0978 late Monday
Pound/dollar: UP at $1.3071 from $1.3114
Euro/pound: DOWN at 83.38 pence from 83.65 pence
Dollar/yen: UP at 123.60 yen from 122.78 yen
burs-rl/gw/cs/hs
S.F.Warren--AMWN