Global stocks slip as investors mull red-hot inflation and supersized central bank rate hikes | Businessinsider

slipped 0.62% and 0.55%, pointing to another slide at the opening bell later.

This week's above-consensus inflation reading makes it more likely that the Fed will aggressively hike interest rates. The US central bank alreadylast month as it tries to bring soaring prices under control. "A 75 basis point hike at the next Fed meeting is now fully priced in, with Fed funds futures pointing to some chance that the central bank may even hike 1%," UBS chief investment officer Mark Haefele said., and the Royal Bank of New Zealand hiked rates by 50 basis points as well this week.

"Canada's actions yesterday in raising by 100 basis points may well have opened the door to the Fed also being more aggressive, even though it is by no means a done deal," CMC Markets' chief analyst Michael Hewson said. The MSCI World Index of global shares dropped 0.25%. Stocks in Europe led the sell-off, with the continent's flagship

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