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Stock market today: Global shares sink after Fed notes dent hopes of rate hikes ending

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BEIJING (AP) — Global stocks followed Wall Street lower Thursday after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished. London, Hong Kong, Paris and Seoul declined. Shanghai and Wall Street futures advanced. Oil prices rose. Wall Street's benchmark S&P 500 lost 0.8% on Wednesday after minutes from the Fed's latest meeting suggested board members are unsure what to do after raising their key lending rate to a two-decade high. Traders had hoped the board wou

BEIJING — Global stocks followed Wall Street lower Thursday after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished.

In early trading, the FTSE 100 in London fell 0.3% to 7,332.01. The CAC 40 in Paris lost 0.4% to 7,233.00 and the DAX in Frankfurt retreated 0.3% to 15,738.25.On Wednesday, the Dow lost 0.5% and the Nasdaq composite dropped 1.1%. Yields widened further after the release of Fed notes increased expectations of another possible rate hike. When safer bonds pay higher returns, investors often feel less incentive to buy stocks, which have more volatile prices.At a news conference, Fed Chair Jerome Powell said Wednesday the Fed staff no longer projects a recession this year but sees an economic slowdown with risks to growth tilted to the downside and risks to inflation tilted to the upside.

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