World stocks sink amid worries over U.S. rate hikes, Russia

London and Frankfurt opened lower. Tokyo and Hong Kong fell, while Shanghai was little changed. Oil prices rose more than US$1 per barrel.

European governments have resisted appeals to boycott Russian gas, Putin's biggest export earner, due to the possible impact on their economies. On Wall Street, the future for the S&P 500 was off 0.5% and that for the Dow Jones Industrial Average retreated 0.4%. On Tuesday, the S&P 500 recorded its first loss in three days and the Dow fell 0.8%. The Nasdaq composite slid 2.3%.

Higher interest rates tend to hurt stocks that are seen as the priciest, which puts the focus on big technology and other high-growth stocks. On Wall Street, Apple and Tesla were some of the biggest weights on the market Tuesday.

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Asia stocks decline amid worries over U.S. rate hikes, RussiaAsian stocks followed Wall Street lower Wednesday after a Federal Reserve official's comments fuelled expectations of more aggressive interest U.S. rate hikes and the White House announced more sanctions on Russia.
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