- Russian wrestlers reject Olympics invitation
- Raducanu rediscovers Wimbledon 'fun' factor after turbulent spell
- Winning all that matters at Euro 2024 for Mbappe's minimalist France
- Eight dead, two million affected by Bangladesh floods
- Robertson pleased to 'find a way' past England in tough Test baptism
- Martin sets lap record to secure German MotoGP pole
- 'Shattered' Germany set sights on World Cup after Euros exit
- Olympic hope Pedersen pulls out of Tour de France
- Djokovic eyes sweet 16 at Wimbledon as Swiatek takes on 'gangster'
- End beckons again for Ronaldo after Portugal Euros KO
- New Zealand edge England 16-15 in tense, brutal first Test
- Turkey take on Dutch in politically charged Euros quarter-final, England face Swiss
- Calling for better ties with West, Iran reformist wins presidency
- Cybercrime groups restructuring after major takedowns: experts
- Activists hail Sierra Leone child marriage ban, urge action on FGM
- Marsch relishing Canada's semi clash with Argentina
- Canada stun Venezuela on penalties to reach Copa semis
- Iran reformist Pezeshkian holds early lead in runoff vote
- Swiatek faces 'gangster' threat, Djokovic feels need for Wimbledon speed
- France holds its breath ahead of uncertain vote
- Starmer begins UK 'rebuild' after landslide election win
- Paris's Moulin Rouge inaugurates new windmill sails ahead of Olympics
- Pan, Rai share halfway lead in PGA John Deere Classic
- 'I was feeling terrible' in debate, Biden says in TV interview
- France coach Deschamps savours ending penalty hoodoo, defends Mbappe
- Thompson bids farewell to Warriors after exit
- Portugal exit Euros with pride, will return stronger: Martinez
- UK's new PM Starmer speaks to world leaders, names top team
- Spain and France to face off in Euros last four, Turkey lament 'unfair' Demiral ban
- Israel says negotiators to hold fresh Gaza truce talks next week
- France beat Portugal on penalties to reach Euro 2024 semi-finals
- Endrick to start for Brazil in Uruguay Copa clash: Dorival
- Heartbreak for Germany fans after dramatic Euros exit
- Beryl heads for Texas after causing damage, no deaths in Mexico
- Nagelsmann laments late penalty decision as hosts Germany exit Euros
- Biden declares he's all in ahead of high-risk TV interview
- Spain team 'is a winning horse', says De la Fuente
- Bows at the ready, Chad villagers battle kidnappings
- Alcaraz mimics Bellingham goal celebration after Wimbledon win
- Olmo hopes Pedri can make speedy return for Euros semi-finalists Spain
- Retiring Kroos hopeful despite Germany's 'bitter' Euros exit
- Southgate turns on English 'entitlement' over claims of easy Euros draw
- Merino extra-time goal sends Spain past Germany to Euro semis
- Koeman demands Dutch silence fervent Turkish fans at Euros
- Brad Pitt at Silverstone for filming of F1 movie
- Raducanu storms into Wimbledon last 16
- California fires spread in July 4 weekend heatwave
- Alcaraz wins five-set Wimbledon thriller as Gauff eases through
- Demiral Euros ban 'unfair' but Turkish pride will grow, says coach Montella
- Gauff overpowers qualifier to reach Wimbledon fourth round
Stocks tumble on US rate hike uncertainty
Equity markets mostly retreated Thursday, with the sharpest losses in Asia, after Federal Reserve chief Jerome Powell refused to be drawn on the pace of US interest rate hikes to battle decades-high inflation.
Although Powell on Wednesday firmed market expectations of a rate increase in March, investors were spooked by what happens thereafter.
His reluctance to give clear guidance on further tightening helped the dollar to reach a two-month high against the euro Thursday.
"Federal Reserve chair Jay Powell failed to stop the market rout with the central bank's latest policy update, with US stocks falling further after the announcement and the equity sell-off extending to most of Asia and Europe on Thursday," said AJ Bell investment director Russ Mould.
"It's what he didn't say that troubled investors. The key concerns are how aggressive the Fed will be with raising rates -- will they go up at every meeting this year, and will they go up by more than 0.25 percentage points each time?"
Fed officials still believe the price rises will be brought under control as economies reopen and supply chain problems abate, but the need to prevent them from running away is forcing them into an aggressive pivot.
The meeting "played out more hawkishly than we expected", said Steven Englander at Standard Chartered Bank.
"The (policy board) statement was largely as anticipated, but... Powell emphasised upside risks to inflation, pointing to a steady pace of policy withdrawal."
Powell's comments sent Wall Street sharply lower from their intra-day levels with tech firms, which are more susceptible to higher borrowing costs, taking the brunt.
Sharp Asian losses followed, particularly among tech stocks.
Seoul tanked more than three percent into a bear market -- a 20 percent drop from its recent high hit in August -- while Sydney fell into a correction, having given up 10 percent from its latest peak.
Tokyo took a 3.1-percent pounding as market heavyweights Sony and SoftBank -- which invests heavily in the tech sector -- led losses, while Hong Kong was two percent off.
Europe was mixed, with gains for London, Milan and Madrid, while Frankfurt and Paris fell in midday deals awaiting the Wall Street open.
- Oil below $90 -
Elsewhere, oil prices steadied, a day after benchmark European contract Brent North Sea briefly broke $90 per barrel for the first time in seven years owing to rising Ukraine-Russia tensions and falling US crude stockpiles.
Eyes are on the upcoming meeting of OPEC and other key producers, where they will discuss plans to continue to increase output.
"Energy traders are anticipating higher energy prices on potential geopolitical risks and as OPEC+ will stick to their plan to deliver another modest increase to production at next week's meeting," said OANDA's Edward Moya.
- Key figures around 1145 GMT -
London - FTSE 100: UP 0.5 percent at 7,504.16 points
Paris - CAC 40: DOWN 0.2 percent at 6,971.66
Frankfurt - DAX: DOWN 0.5 percent at 15,389.22
EURO STOXX 50: DOWN 0.3 percent at 4,150.27
Tokyo - Nikkei 225: DOWN 3.1 percent at 26,170.30 (close)
Hong Kong - Hang Seng Index: DOWN 2.0 percent at 23,807.00 (close)
Shanghai - Composite: DOWN 1.8 percent at 3,394.25 (close)
New York - Dow: DOWN 0.4 percent at 34,168.09 (close)
Euro/dollar: DOWN at $1.1188 from $1.1238 late Wednesday
Pound/dollar: DOWN at $1.3403 from $1.3458
Euro/pound: UP at 83.47 pence from 83.45 pence
Dollar/yen: UP at 115.18 yen from 114.64 yen
Brent North Sea crude: UP 0.2 percent at $88.89 per barrel
West Texas Intermediate: UP 0.1 percent at $87.39 per barrel
A.P.Maia--PC