- Madrid's Carvajal to miss several months after serious knee injury
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Monaco take top spot in Ligue 1 with win at Rennes
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
- DR Congo launches mpox vaccination drive, hoping to curb outbreak
- Trump returns to site of failed assassination
- Careless Leverkusen held to Bundesliga draw
- O'Brien's 'superstar' Kyprios posts landmark win on Arc weekend
- Liverpool suffer Alisson injury blow
- Habosi helps Racing beat Vannes before Auradou's playing return
- Thousands march in London in support of Palestinians, 1 year after Oct 7
- Israel readying response to Iran missile attack
- Schutt, Mooney help Australia beat Sri Lanka in Women's T20 World Cup
- Liverpool extend Premier League lead with win at Palace
- Djokovic 'shakes rust off' to make third round of Shanghai Masters
Stock markets slump on recession fears
Stock markets slumped Thursday after Wall Street suffered one of its worst batterings in two years as traders recoiled at the prospect of recession.
Downcast earnings reports from retailers have exacerbated worries about consumer resilience in the face of decades-high inflation.
"A red wall of worry has built up across financial markets with investors increasingly nervous that economies are set to career into recession," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
Europe's major stock markets were down more than two percent approaching the half-way stage after leading Asian indices closed down by a similar amount.
Among the biggest losers were tech giants after Chinese giant Tencent reported lacklustre profits, fuelling wider concerns over China's economic outlook.
Tencent shares plunged more than eight percent in early trading before paring losses slightly, a day after it posted its slowest revenue gain since going public in 2004.
Among other tech titans, Alibaba dropped more than six percent.
"Sentiment... is highly negative as traders and investors are largely concerned about an economic downturn and soaring inflation," said AvaTrade analyst Naeem Aslam.
On Wall Street Wednesday, all three major US indices dived, with the Dow sinking more than 1,150 points or 3.6 percent.
The Nasdaq plunged 4.7 percent by the close.
North American-focused big-box retailer Target plunged about 25 percent in value after group earnings missed expectations despite higher sales.
The company reported higher operating costs in results that echoed those of bigger rival Walmart.
The retailers said consumers were avoiding discretionary purchases as prices for food, gasoline and other household staples jump.
"The big falls in shares... highlights the damage inflation is inflicting," said Fawad Razaqzada at City Index.
"Consumers are getting squeezed... and if they now start to cut back on spending then retailers could suffer even further."
In some of his most hawkish remarks to date, Federal Reserve Chair Jerome Powell this week said the US central bank would raise interest rates until there is "clear and convincing" evidence that inflation is in retreat.
But higher borrowing costs increases debt, heaping further pressure on consumers and businesses.
The United States is facing the fastest inflation in four decades, as is Britain, causing the Bank of England to also raise interest rates.
- Key figures at around 1100 GMT -
London - FTSE 100: DOWN 2.4 percent at 7,260.54 points
Frankfurt - DAX: DOWN 1.9 percent at 13,736.78
Paris - CAC 40: DOWN 2.1 percent at 6,220.91
EURO STOXX 50: DOWN 2.3 percent at 3,606.19
Hong Kong - Hang Seng Index: DOWN 2.5 percent at 20,120.60 (close)
Shanghai - Composite: UP 0.4 percent at 3,096.96 (close)
Tokyo - Nikkei 225: DOWN 1.9 percent at 26,402.84 (close)
New York - Dow: DOWN 3.6 percent at 31,490.07 (close)
Brent North Sea crude: DOWN 1.3 percent at $107.68 per barrel
West Texas Intermediate: DOWN 1.7 percent at $107.8 per barrel
Euro/dollar: UP at $1.0530 from $1.0479
Pound/dollar: UP at $1.2430 from $1.2346
Euro/pound: DOWN at 84.73 pence from 84.88 pence
Dollar/yen: DOWN at 127.72 yen from 128.58
F.Carias--PC