- Pakistan 'vigilantes' behind rise in online blasphemy cases
- Nearly 90, but opera legend Kabaivanska is still calling tune
- Smith experiment as Test opener over, Green out of India series
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Dodgers crush Mets 9-0 in MLB playoff series opener
- South Korea military says 'fully ready' as drone tensions soar
- Cummins back, Marsh and Head out of Pakistan ODI series
- Shanghai stocks swing after stimulus briefing as most of Asia rises
- New Zealand's Latham promises 'no fear' as he takes charge for India Tests
- Kyrgios vows to 'shut up' doubters with December comeback
- Public hearings start into death of Brit by Russian nerve agent
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
- 'Stolen satire' feeds US election misinformation
- Rookie McCarty captures first PGA Tour title in Black Desert Championship
- Australia all-rounder Green ruled out of India Test series
- Seeing double in Nigeria's 'twins capital of the world'
- UK FM to attend EU foreign affairs talks for first time in 2 years
- Carter, Billups among 13 new Basketball Hall of Fame inductees
- Ravens rip Commanders as Lions lose NFL sacks leader in win
- Hezbollah drone strike kills four, wounds dozens at Israeli base
- China says launches military drills around Taiwan
- Stewart leads Liberty past Lynx to level WNBA Finals
- England return to winning ways in Nations League, Austria thrash Norway
- UN chief says attacks on UNIFIL 'may constitute a war crime'
- Ravens outlast Commanders while Bucs batter Saints in NFL
- Dozens hurt in Israel as Hezbollah claims drone strike
- England deserve 'world class' coach: Carsley
- Burkina Faso win to become first qualifiers for 2025 AFCON
- AC Milan's Pulisic among five out for USA match in Mexico
- France's Amandine Henry retires from international football
- Centre-left set to win pro-Ukraine Lithuania's vote
- India's World Cup hopes in Pakistan hands after Australia defeat
- Zelensky says NKorea sending troops to Russian army
- England beat Finland to get back on track
- King and Lewis propel West Indies to T20 triumph over Sri Lanka
- Pre-Halloween 'Terrifier' lands atop North America box office
- 'I still plan to compete and play next season,' says Djokovic
- Harris, Trump seek advantage in knife-edge election battle
- Chepngetich shatters women's marathon world record in Chicago
- Kamindu and Asalanka power Sri Lanka to 179 against West Indies
- Chepngetich shatters women's marathon world record as Korir wins in Chicago
- Spain send injured Yamal home 'to prioritise player's health'
- In milestone, SpaceX 'catches' megarocket booster after test flight
- Iraq walks fine line with pro-Iran factions to avoid war
- Race four abandoned after New Zealand breeze into 3-0 lead in America's Cup
- West Indies win toss, put Sri Lanka in to bat in first T20
- Sudan rescuers say air strike killed 23 in Khartoum market
- Netanyahu tells UN to move Lebanon peacekeepers out of 'harm's way'
Stocks mostly extend losses as recession fears linger
Stock markets across Europe and Asia on Tuesday mostly extended recent sharp losses on lingering worries about possible recession for major economies.
Panic has swept through trading floors since data on Friday showed US consumer prices rising at their fastest pace in decades on surging energy and food costs caused by the Ukraine war and supply chain snarls.
The pain has been felt across all assets, with bitcoin threatening to fall below $20,000 for the first time since December 2020, currencies retreating against the dollar, and safe havens including the yen and gold feeling the squeeze.
Investors are bracing for the Federal Reserve's interest rate decision Wednesday as it struggles to walk a fine line between reining in inflation and trying to keep the economy on track.
"While there is no doubt that inflation is a considerable challenge for the US at this point, slamming on the brakes too hard risks pushing the economy off its track," said Tai Hui of JP Morgan Asset Management.
Fears that the world's top economy is heading for a recession sent Wall Street plunging Monday, with the broad-based S&P 500 stocks index sinking into a bear market after dropping more than 20 percent from its recent peak.
Elsewhere, data Tuesday confirmed annual inflation in Germany, Europe's biggest economy, hit a record 7.9 percent in May.
It comes as confidence among German investors remains subdued despite picking up for the second month in a row.
The ZEW institute's economic expectations index climbed in June by 6.3 points to minus 28 points compared with May, but it is still well below pre-pandemic levels.
"The economy is still exposed to numerous risks, such as the effects of the sanctions against Russia, the unclear pandemic situation in China and the gradual change of course in monetary policy," said ZEW president Achim Wambach.
On the upside, UK transport giant Go-Ahead saw its share price surge after the group agreed to a takeover from a global consortium.
Shares in Go-Ahead, which operates London's famous red buses on behalf of the capital's transport authority, jumped 14 percent to £15.50 ($18.75).
The cash bid, pitched at £15 per share including a special dividend, is worth the equivalent of $793 million.
- Key figures at around 1045 GMT -
London - FTSE 100: DOWN 0.9 percent at 7,140.71
Frankfurt - DAX: DOWN 0.7 percent at 13,328.29
Paris - CAC 40: DOWN 1.2 percent at 5,948.94
EURO STOXX 50: DOWN 0.7 percent at 3,476.64
Tokyo - Nikkei 225: DOWN 1.3 percent at 26,629.86 (close)
Hong Kong - Hang Seng Index: FLAT at 21,067.99 (close)
Shanghai - Composite: UP 1.0 percent at 3,288.91 (close)
New York - Dow: DOWN 2.8 percent at 30,516.74 (close)
Euro/dollar: UP at $1.0439 from $1.0412 late Monday
Pound/dollar: DOWN at $1.2111 from $1.2136
Euro/pound: UP at 86.18 pence from 85.76 pence
Dollar/yen: DOWN at 134.27 yen from 134.42 yen
Brent North Sea crude: UP 0.9 percent at $123.37 per barrel
West Texas Intermediate: UP 0.8 percent at $121.86 per barrel
Y.Kobayashi--AMWN