- 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
World stock markets beat retreat with all eyes on Fed
Global equities sank Wednesday on bets the Federal Reserve will act more aggressively to bring inflation under control, while oil prices rebounded.
Asian and European bourses retreated after heavy falls on Wall Street Tuesday.
The euro hit a one-month dollar low before minutes from the Fed's latest policy meeting due Wednesday.
London stocks slid also as UK businesses and individuals saw a major tax hike kick in, worsening Britain's cost-of-living crisis as domestic energy bills rocket.
Minutes from the Fed's March meeting will be pored over for insights into the thinking of US central bankers, in light of the Ukraine war and recent data suggesting the world's top economy remains resilient.
- 'Significant headwinds' -
"Investor confidence might have improved from the low point in early March when the Ukraine war was unfolding," said AJ Bell investment director Russ Mould.
"However, there remain significant headwinds for equities and the latest trouble spot is what the Federal Reserve might do to curb inflation."
Investors are fretting also over how quickly officials will withdraw their vast pandemic-era financial support.
After last month's 0.25-percentage-point hike in US interest rates, the focus is now on its plans for May's meeting, with expectations growing that the Fed will announce a 0.50-point lift followed by several more before the end of the year.
Fed governor Lael Brainard, who is considered a dove, on Tuesday spooked traders by saying bringing US inflation down from 40-year highs was of "paramount importance" and that the bank was "prepared to take stronger action" if warranted.
Brainard also said bank policymakers were ready to start reducing its vast bond holdings, which have helped keep borrowing costs down.
"Brainard's hawkish comments rocked the markets," said Swissquote analyst Ipek Ozkardeskaya.
"In this tense environment, investors will be closely watching the Fed minutes today. There would be no surprise if the Fed hinted a 50-basis-point hike (for) the next meeting," she noted.
All three main indices on Wall Street ended Tuesday in the red, with the Nasdaq off more than two percent owing to tech firms being more susceptible to higher rates.
- Oil rebounds -
Oil prices rebounded on Wednesday, after European Council chief Charles Michel told the European Parliament that it must impose oil and gas sanctions on Russia "sooner or later".
Crude futures had slid the previous day on the European Union's decision not to include Russian oil in a fresh round of sanctions.
Adding to downward pressure on crude is a strong dollar thanks to the prospect of a series of US interest rate hikes.
Oil is priced in dollars, making it more expensive for clients using other currencies.
- Key figures around 1030 GMT -
London - FTSE 100: DOWN 0.5 percent at 7,577.10 points
Frankfurt - DAX: DOWN 1.3 percent at 14,230.52
Paris - CAC 40: DOWN 1.2 percent at 6,564.72
EURO STOXX 50: DOWN 1.5 percent at 3,858.21
Tokyo - Nikkei 225: DOWN 1.9 percent at 27,080.52 (close)
Hong Kong - Hang Seng Index: DOWN 1.3 percent at 22,219.85 (close)
Shanghai - Composite: FLAT at 3,283.43 (close)
New York - Dow: DOWN 0.8 percent at 34,641.18 (close)
Brent North Sea crude: UP 1.5 percent at $108.24 per barrel
West Texas Intermediate: UP 1.8 percent at $103.78 per barrel
Euro/dollar: DOWN at $1.0903 from $1.0905 late Tuesday
Pound/dollar: UP at $1.3080 from $1.3074
Euro/pound: DOWN at 83.37 pence from 83.41 pence
Dollar/yen: UP at 123.96 yen from 123.60 yen
burs-rfj/bcp/lth
H.E.Young--AMWN