Global stocks mostly fall on lingering worries over inflation

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Global Stocks News

Wall Street

NEW YORK, May 23 — Global stocks mostly retreated Wednesday after British inflation data doused hopes of a quick Bank of England rate cut, while Federal Reserve minutes...

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“This was disappointing news, and the markets moved quickly to price out hopes of a June rate cut. It now looks as if September is most likely,” said David Morrison, senior analyst at Trade Nation.But US indices tripped into the red after the Fed minutes showed that policy makers were frustrated with the lack of progress in bringing inflation towards the central bank’s 2 per cent target.

Anticipation was high heading into the day owing to results from artificial intelligence highflier Nvidia. Anglo American rose 0.4 per cent after the London-quoted company rejected the latest bid by BHP but left the door open to further discussions.

 

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