Global stock markets are lower after Wall Street ended with a loss for the week amid anxiety about Federal Reserve plans for more interest rate hikes to cool inflation.
Futures for the Dow Jones Industrial Average lost 0.2% early Monday and futures for the S&P 500 slid 0.6%.by suggesting that in order to bring down decades-high inflation, the central bank's base lending rate might have to be raised to as much as almost double its already elevated level.Walt Disney Co.
Investors worry repeated rate hikes by the Fed and central banks in Asia and Europe this year to cool surging inflation might tip the global economy into recession. Traders expect the Fed to raise its key rate again at its December meeting but by a smaller margin of 0.5 percentage points. The Shanghai Composite Index lost 0.4% to 3,085.04 and the Nikkei 225 in Tokyo lost 0.2% to 27,944.79.India's Sensex sank 0.9% to 61,132.92. New Zealand and Bangkok gained while Singapore and Jakarta declined.
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