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Global stocks mixed after Wall St sinks on rate fears

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Global stock markets were mixed Tuesday as traders looked ahead to a speech by Federal Reserve Chair Jerome Powell for clues to interest rate plans after Japanese wages rose and Australia's central bank hiked its key rate again.

A currency trader watches monitors near the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Feb. 7, 2023. Asian stock markets rebounded Tuesday after Wall Street sank under pressure from worries about higher interest rates and after Japan reported stronger wage gains than expected.

In early trading, the FTSE 100 in London gained 0.3% to 7,863.65. Frankfurt's DAX fell 0.4% to 15,291.90 and the CAC 40 in Paris lost 0.3% to 7,115.76. Sydney's S&P-ASX 200 lost 0.5% to 7,504.10 after the Reserve Bank of Australia raised its benchmark rate by 0.25 percentage points to 3.35%. The RBA said more hikes are planned to lower inflation that is at a 33-year high of 7.8% to its target range of 2% to 3%.

 

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