Stock market today: World shares are mixed after Wall St slumps despite strong US economic data
1 day, 2 hours ago

Stock market today: World shares are mixed after Wall St slumps despite strong US economic data

Associated Press  

HONG KONG — Global shares were mixed on Wednesday after shares slumped on Wall Street despite better-than-expected reports on the U.S. jobs market and business activity. But a strong economy could also keep up pressure on inflation, and it could make the Federal Reserve less likely to deliver the cuts to interest rates that Wall Street loves. The threat of tariffs from President-elect Donald Trump has raised worries about possible upward pressure on inflation, which has stubbornly remained just above the Fed’s 2% target. Tuesday’s report on U.S. services industries from the Institute for Supply Management also contained discouraging trends on inflation, saying price increases accelerated in December.

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