
-
South Korea seize two tons of cocaine in largest-ever drug bust
-
Pacific nations perplexed, worried by Trump tariffs
-
The race to save the Amazon's bushy-bearded monkeys
-
Trump tariffs to test resiliency of US consumers
-
Clamping down on 'forever chemicals'
-
Prominent US academic facing royal insult charge in Thailand
-
Yana, a 130,000-year-old baby mammoth, goes under the scalpel
-
'Don't want to die': Lesotho HIV patients look to traditional medicine
-
Curry scores 37 as Warriors outgun LeBron's Lakers
-
Crops under threat as surprise March heatwave hits Central Asia: study
-
Japan PM says Trump tariffs a 'national crisis'
-
Security 'breakdown' allows armed men into Melbourne's MCG
-
Norris fastest in Japan GP first practice, Tsunoda sixth on Red Bull debut
-
Albon says Thailand taking bid for F1 race 'very seriously'
-
'It's gone': conservation science in Thailand's burning forest
-
Protest as quake-hit Myanmar junta chief joins Bangkok summit
-
EU leaders push for influence at Central Asia summit
-
Asian stocks extend global rout after Trump's shock tariff blitz
-
Lewandowski, Mbappe duel fuelling tight La Liga title race
-
Liverpool march towards title as Man City face Man Utd
-
Finland's colossal bomb shelters a model for jittery Europe
-
Athletes frustrated as France mulls Muslim headscarf ban in sport
-
Korda downs Kupcho to stay alive at LPGA Match Play
-
German industry grapples with AI at trade fair
-
Irish school trains thatchers to save iconic roofs
-
'Frightening': US restaurants, producers face tariff whiplash
-
Cuba looks to sun to solve its energy crisis
-
Experts warn 'AI-written' paper is latest spin on climate change denial
-
PSG eye becoming France's first 'Invincibles'
-
Late birdie burst lifts Ryder to Texas Open lead
-
Five potential Grand National fairytale endings
-
Trump purges national security team after meeting conspiracist
-
More work for McIlroy even with two wins before Masters
-
Trump hopeful of 'great' PGA-LIV golf merger
-
No.1 Scheffler goes for third Masters crown in four years
-
Where Trump's tariffs could hurt Americans' wallets
-
Trump says 'very close to a deal' on TikTok
-
Trump tariffs on Mexico: the good, the bad, the unknown
-
Postecoglou denies taunting Spurs fans in Chelsea defeat
-
Oscar-winning Palestinian director speaks at UN on Israeli settlements
-
With tariff war, Trump also reshapes how US treats allies
-
Fernandez fires Chelsea into fourth as pressure mounts on Postecoglou
-
South Korea court to decide impeached president's fate
-
Penguin memes take flight after Trump tariffs remote island
-
E.T., no home: Original model of movie alien doesn't sell at auction
-
Italy's Brignone has surgery on broken leg with Winter Olympics looming
-
City officials vote to repair roof on home of MLB Rays
-
Rockets forward Brooks gets one-game NBA ban for technicals
-
Pentagon watchdog to probe defense chief over Signal chat row
-
US tariffs could push up inflation, slow growth: Fed official

Stocks slide as US inflation surges
US stock markets slid on Thursday as data showed inflation jumping to a four-decade high, raising concerns that the Federal Reserve may move aggressively with interest rate hikes.
US consumer prices rose at an annual rate not seen since February 1982, with a 7.5 percent increase over the 12 months to January, according to government figures.
Wall Street's three major indices moved lower, although they pared their initial losses.
The "surprising acceleration" of consumer prices "boosted expectations of a more aggressive response from the Fed", said analysts at Charles Schwab investment firm.
"The initial optimism that we might see evidence that US inflation might be slowing, that had helped push US markets higher this week, and higher in the pre-market, sharply evaporated" after the data was released, said market analyst Michael Hewson at CMC Markets.
Some Fed officials on Wednesday said policymakers would make their decisions based on data coming across their desks, with a 50-basis-point hike -- as opposed to the usual 25 basis points -- not off the table.
Surging inflation and bets that the US central bank will end its pandemic-era cheap cash policies have weighed on world markets in recent months, stalling a two-year rally that saw them hit record or multi-year highs.
The yield on the 10-year US Treasury note, a proxy for interest rates, hit two percent on Thursday for the first time since July 2019.
"The market isn't just concerned about inflation, it is also concerned about the Fed's response to inflation," said JJ Kinahan, chief market strategist at TD Ameritrade.
"Raising interest rates may be appropriate monetary policy, but that doesn't mean the market as a whole will react positively," he said.
In Europe, London's FTSE 100 rose, Frankfurt's DAX edged higher, and in Paris the CAC 40 slipped.
Europe had its share of negative news as the European Commission cut the eurozone's economic growth forecast as energy prices and supply chain problems jack up inflation.
This followed what had been a broadly positive week for global equities thanks to some healthy earnings results, further reopening of economies and signs of easing Russia-Ukraine tensions.
- Earnings boost -
There is a feeling in some quarters that investors may be getting used to the prospect of higher borrowing costs, however, while still-strong economic data and the easing of containment measures will continue to support company earnings.
French energy giant TotalEnergies rebounded from the Covid crisis with a huge 2021 profit as oil and gas prices soared.
The company reported a net profit of $16 billion following a $7.2-billion loss in 2020, when crude prices crashed.
Elsewhere, signs of progress on the diplomatic front in eastern Europe have kept a cap on oil price gains in recent days, as has the possibility of a revived Iran nuclear deal, which could see Tehran resume worldwide exports and ease supply problems.
Both main contracts were nevertheless higher Thursday, having rallied this year to their highest levels since 2014.
- Key figures around 1630 GMT -
New York - Dow: DOWN 0.4 percent at 35,628.05 points
EURO STOXX 50: DOWN 0.1 percent at 4,199.40
London - FTSE 100: UP 0.4 percent at 7,672.40 (close)
Frankfurt - DAX: UP less than 0.1 percent at 15,490.44 (close)
Paris - CAC 40: DOWN 0.4 percent at 7,101.55 (close)
Tokyo - Nikkei 225: UP 0.4 percent at 27,696.08 (close)
Hong Kong - Hang Seng Index: UP 0.4 percent at 24,924.35 (close)
Shanghai - Composite: UP 0.2 percent at 3,485.91 (close)
Euro/dollar: UP at $1.1486 from $1.1425 late Wednesday
Pound/dollar: UP at $1.3630 from $1.3535
Euro/pound: DOWN at 84.29 pence from 84.40 pence
Dollar/yen: UP at 115.84 yen from 115.52 yen
Brent North Sea crude: UP 1.3 percent at $92.74 per barrel
West Texas Intermediate: UP 1.8 percent at $91.25 per barrel
burs-rl/imm
P.L.Madureira--PC