Global stocks up as traders digest U.S. Fed anti-inflation pledge

Wall Street futures were higher after the benchmark S&P 500 index fell 0.7% on Monday, adding to last week's losses.

In early trading, the FTSE 100 in London opened up 0.6% at 7,472.03 and Frankfurt's DAX added 1.4% to 13.079.12. The CAC 40 in Paris gained 1.1% to 6,288.59.On Monday, the Dow dropped 0.6% and the Nasdaq composite tumbled 1%. Investors worry rate hikes by the Fed and by central banks in Europe and Asia might derail global economic growth.

Some investors had hoped that the Fed would ease up if inflation subsides. That sentiment led to a rally for stocks in July and early August.

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