- Dupont set for Toulouse return after post-Olympic holiday
- French rugby bosses tighten discipline after nightmare Argentina tour
- Visitors to get rare view of Rome's Trevi Fountain
- Man City and Premier League both claim victory in legal case
- Deschamps delight as 'light back on' for Pogba after doping ban
- Biden, Harris urge Mideast peace on Oct. 7 anniversary
- Neeskens, tough midfielder in Cruyff's Ajax and Dutch teams
- UN warns world's water cycle becoming ever more erratic
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- Ex-Dutch football star Johan Neeskens dies
- Man Utd battling to improve fortunes, says Evans
- What is microRNA? Nobel-winning discovery explained
- Masood, Abdullah centuries lift Pakistan to 328-4 in first England Test
- Hurricane Milton strengthens fast, threatens Mexico, Florida
- Tunisia's President Saied set for landslide election win
- Barca hoping to return to Camp Nou 'by end of year'
- Trump to open second golf course at Scotland resort in summer 2025
- Super-sub Jhon Duran rewarded with new Aston Villa deal
- US duo win Nobel for gene regulation breakthrough
- Masood hits first ton for four years to power Pakistan to 233-1
- Fritz wins delayed match to reach Shanghai Masters third round
- Naomi Osaka pulls out of Japan Open with back injury
- China to flesh out economic stimulus plans after bumper rally
- Artist Marina Abramovic hopes first China show offers tech respite
- Pakistan 122-1 at lunch in first England Test
- Kazakhs approve plan for first nuclear power plant
- World marks anniversary of Oct. 7 attack on Israel
- 'Second family': tennis stars hunt winning formula with new coaches
- Philippines, South Korea agree to deepen maritime cooperation
- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
- Japan govt admits doctoring 'untidy' cabinet photo
- Israel marks first anniversary of Hamas's October 7 attack
- Darvish tames Ohtani as Padres thrash Dodgers
- Asian markets track Wall St rally on jobs data
- Family affair as LeBron, Bronny James make Lakers bow
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- As Great Salt Lake dries, Utah Republicans pardon Trump climate skepticism
- Amazon activist warns of 'critical situation' ahead of UN forum
- Mourners pay tribute to latest victims of deadly Channel crossing
- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- Lewandowski treble for leaders Barca as Atletico held
- Fresh Israeli strikes hit south Beirut
- Sucic stunner earns Real Sociedad draw against Atletico
- PSG draw with Nice, fail to reclaim top spot in Ligue 1
- Gudmundsson downs AC Milan after De Gea's penalty heroics for Fiorentina
- 'Yes' vote prevails in Kazakhstan nuclear plant vote: TV
- 'Difficult day': Oct 7 commemorations begin with festival memorial
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Recession fears haunt markets
Asian and European stock markets mostly nursed losses Wednesday on resurgent fear that sharp interest rate hikes, aimed at tackling runaway inflation, could spark recession, dealers said.
The losses came after a gloomy US consumer confidence report had sent Wall Street tumbling on Tuesday.
US stocks stabilised on Wednesday, with the Dow adding 0.3 percent while the tech-heavy Nasdaq dipped slightly.
European sentiment was rocked also by data showing Spanish inflation rocketed to a 37-year peak of 10.2 percent in June on rising energy and food prices.
The news sent the Madrid stock market down 1.3 percent, with Frankfurt showing a similar loss. Paris shed 0.8 percent. London managed to break into the green and show a small gain.
"So much for the big stock market comeback. Another day, another sea of red on the market," said AJ Bell investment director Russ Mould.
The selloff followed more than a week of global gains caused by hopes that any signs of contraction could give central banks room to ease up on their pace of monetary tightening.
But New York stocks tanked Tuesday on data showing confidence among US consumers -- a key driver of the world's top economy -- had fallen to its lowest level in more than a year.
The data re-ignited stubborn worries over the strength of the world economy, and eclipsed news of a surprise move by China to slash the quarantine period for incoming travellers.
That had raised hopes for further relaxations that can allow the country's giant economy to recover more quickly.
- 'Down the drain' -
"With signs that consumer confidence is seeping away, worries that global growth will go down the drain have returned to rattle financial markets," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
"Covid restrictions may have eased for international travellers to China as infections rates slow, but one global problem is being replaced by another -- fear that recessions are looming around the world."
Fed officials on Tuesday tried to play down the chances of a recession, expressing hope of a soft landing.
City Index analyst Fawad Razaqzada said there is a threat of high inflation and recession, a phenomenon economists call stagflation.
"That is where the global economy is headed, and central banks won't be able to do much about it," he said in a note to clients.
"If they fasten their belts too tightly, this will hit GDP, while if they loosen their belts again, this will only fuel inflationary pressures further."
Oil prices advanced on expectations of demand growth as China lifts Covid restrictions and owing to tight supplies following bans on Russian imports.
Observers warned that G7 plans for a price cap on Russian crude was unlikely to have a massive impact on benchmark values.
- Key figures at around 1330 GMT -
London - FTSE 100: UP less than 0.1 percent at 7,328.75 points
Frankfurt - DAX: DOWN 1.3 percent at 13,057.85
Paris - CAC 40: DOWN 0.8 percent at 6,038.74
EURO STOXX 50: DOWN 0.8 percent at 3,521.70
New York - Dow: UP 0.3 percent at 31,047.40
Tokyo - Nikkei 225: DOWN 0.9 percent at 26,804.60 (close)
Hong Kong - Hang Seng Index: DOWN 1.9 percent at 21,996.89 (close)
Shanghai - Composite: DOWN 1.4 percent at 3,361.52 (close)
Brent North Sea crude: UP 1.3 percent at $119.55 per barrel
West Texas Intermediate: UP 1.3 percent at $113.24 per barrel
Euro/dollar: DOWN at $1.0507 from $1.0519 Tuesday
Pound/dollar: DOWN at $1.2143 from $1.2184
Euro/pound: UP at 86.41 pence from 86.33 pence
Dollar/yen: UP at 136.87 yen from 136.14 yen
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E.Paulino--PC