Asian equities trimmed gains while US and European stock futures slumped and the dollar rose as investors returned their focus to inflation and the risk of global recession.
Oil slipped after a two-day rally as lingering concerns over a global slowdown and a stronger dollar offset a tightening supply outlook.
The European Central Bank should opt for a “big” increase in interest rates in October, according to Governing Council member Martins Kazaks, who said in an interview that subsequent hikes are likely to be smaller.
Ian is the type of storm experts have long warned could strike western Florida. And its destruction is nowhere close to done.
A broad shakeup of state institutions deepened in Kuwait after top officials in the Gulf state’s pension fund were asked to resign.
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