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- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Madrid beat Villarreal but Carvajal suffers knee injury
- Madrid beat Villarreal to move level with Liga leaders Barcelona
- Monaco take top spot in Ligue 1 with win at Rennes
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- Madrid beat Villarreal to level Liga leaders Barca
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- Toddler among 3 dead in migrant Channel crossings
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- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Kovacic stars as Man City sink Fulham to get title bid back on track
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
- Thousands march for Palestinians ahead of Oct 7 anniversary
- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
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- Trump returns to site of failed assassination
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- Toddler crushed to death in migrant Channel crossing
- Liverpool suffer Alisson injury blow
- Habosi helps Racing beat Vannes before Auradou's playing return
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- Israel readying response to Iran missile attack
- Schutt, Mooney help Australia beat Sri Lanka in Women's T20 World Cup
- Liverpool extend Premier League lead with win at Palace
- Djokovic 'shakes rust off' to make third round of Shanghai Masters
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US stocks tumble again as oil prices reach multi-year highs
Wall Street stocks tumbled again Wednesday following a volatile session as markets grapple with the prospect of higher interest rates, while oil prices scaled new multi-year highs.
After an up day in European equity markets, Wall Street stocks began the session on positive ground following good results from Procter & Gamble and other companies.
But stocks faltered in the afternoon, falling especially hard in the last hour of trading on weakening sentiment.
The early gains "looked like a good set-up for an equity rebound, but unfortunately, that didn't happen," Briefing.com said. "The inability to rebound from sizable losses deterred risk sentiment, fueling a belief that more downside was ahead."
All three major indices dropped one percent or more in the session, pushing the Nasdaq into a correction -- a decline of greater than 10 percent from its most recent peak.
Stocks have been under pressure for most of 2022 so far as the Federal Reserve has signaled a significant pivot in monetary policy with an accelerated phase-out of stimulus and interest rate cuts.
Investors were spooked Tuesday as the yield on the 10-year Treasury note jumped above 1.85 percent, amid expectations the Fed could hike interest rates as many as four times this year. The rate, a proxy for the interest rate outlook, remained near that level on Wednesday.
World oil prices zoomed to more seven-year peaks on renewed unrest in the crude-rich Middle East, and on expectations of resurgent post-pandemic demand.
The International Energy Agency lifted its forecast for 2022 oil consumption, now seen at 99.7 million barrels per day, above the pre-Covid level.
"If demand continues to grow strongly or supply disappoints, the low level of stocks and shrinking spare capacity mean that oil markets could be in for another volatile year in 2022," the IEA said.
- Key figures around 2125 GMT -
New York - Dow: DOWN 1.0 percent at 35,028.65 (close)
New York - S&P 500: DOWN 1.0 percent at 4,532.76 (close)
New York - Nasdaq: DOWN 1.2 percent at 14,340.26 (close)
London - FTSE 100: UP 0.4 percent at 7,589.66 (close)
Frankfurt - DAX: UP 0.2 percent at 15,809.72 (close)
Paris - CAC 40: UP 0.6 percent at 7,172.98 (close)
EURO STOXX 50: UP 0.3 percent at 4,268.28 (close)
Tokyo - Nikkei 225: DOWN 2.8 percent at 27,467.23 (close)
Hong Kong - Hang Seng Index: UP 0.1 percent at 24,127.85 (close)
Shanghai - Composite: DOWN 0.3 percent at 3,558.18 (close)
Euro/dollar: UP at $1.1351 from $1.1325 late Tuesday
Pound/dollar: UP at $1.3610 from $1.3596
Euro/pound: UP at 83.31 pence from 83.30 pence
Dollar/yen: DOWN at 114.33 yen from 114.61 yen
Brent North Sea crude: UP 1.1 percent at $88.44 per barrel
West Texas Intermediate: UP 1.8 percent at $86.96 per barrel
burs-jmb/cs
P.Stevenson--AMWN