- Alcaraz breezes into third round of Shanghai Masters
- Gaza cultural heritage brought to light in Geneva
- 'Bullet for democracy': Trump returns to site of rally shooting
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- South Korean cult-horror series 'Hellbound' returns at BIFF
- Nepalis fear more floods as climate change melts glaciers
- Honduras arrests environmentalist's alleged murderer
- Padres pitcher Musgrove needs elbow surgery
- Supreme Court lets stand rules to curb mercury, methane emissions
- Boston beat Denver in NBA exhibition season opener, but Jokic says omens are good
- Chagos diaspora angry at lack of input on islands' fate
- Biden says 'not confident' of peaceful US election
- US trade chief defends tariff hikes when paired with investment
- Lukaku stars as Napoli beat Como to hold Serie A top spot
- Ohtani set for MLB playoff debut as Dodgers face Padres
- Pogba's drug ban cut to 18 months from four years
- Devine leads New Zealand to big win over India in Women's T20 World Cup
- Bosnia floods kill 16 people
- EU court blocks French ban on vegetable 'steak' labelling
- Prosecutors seek dismissal of rape charges against French rugby players
- Meta AI turns pictures into videos with sound
- Bolivia's Morales says claims he raped a minor are a 'lie'
- MLB Reds hire two-time champion Francona as manager
- Daniel Maldini receives first Italy call-up for Nations League
- US dockworkers return to ports after three-day strike
- Ancelotti points finger at Madrid's 'lack of intensity'
- Haiti reeling after 70 killed in gang attack
- Five Czech kids in hospital over TikTok 'piercing challenge'
- What happens next in Iran-Israel conflict?
- Country star Garth Brooks denies rape accusations
- Stubbs hits maiden century as South Africa make 343-4 against Ireland
- DR Congo to begin mpox vaccination campaign Saturday in east
- Odegaard injury has forced Arsenal to be 'different', says Arteta
- Ratcliffe refuses to guarantee Ten Hag's Man Utd future
- Meta must limit data use for targeted ads: EU court
- Mauritius to hold legislative election on November 10
- Britain qualify for America's Cup final after 60-year wait
- IMF asks Sri Lanka to protect hard-won gains
- Morata returns to Spain Nations League squad after injury
- Irish regulator to probe Ryanair use of facial recognition
- Public allowed to see video evidence in France mass rape trial
- US hiring soars past expectations in sign of resilient market
- Under-fire Ten Hag 'together' with Man Utd hierarchy
- Guardiola talks of Man City love affair as financial hearing rumbles on
- De Bruyne out of Belgium Nations League squad
- Japanese trainer Yahagi hopes Shin Emperor achieves 50-year-old Arc dream
- UK's Starmer hails 'landmark' carbon capture funding
- As EU targets Chinese cars, European rivals sputter
- Bosnia floods kill 14 people
- Tennis world number one Swiatek splits with coach Wiktorowski
US stocks fall for 3rd straight day as rally fizzles
US stocks sank again Thursday as investors shunned equities amid lingering worries over surging global inflation and the prospect of rising interest rates.
Wall Street opened the day higher following equity gains in some European and Asian bourses after China's central bank cut its lending rate.
While some commentators described the US market as "oversold" after the Nasdaq moved into correction territory following a 10 percent fall from its peak, Wall Street stocks plunged into the red, ending sharply lower.
"It's momentum going the other way," said Briefing.com analyst Patrick O'Hare, who sees the Federal Reserve's recent 180-degree pivot on monetary policy as the driving force in the current trend.
"Last year it was 'buy the dip,'" O'Hare said of trader sentiment. "This year, it's 'sell into strength.'"
The Dow Jones Industrial Average finished at 34,715.39, down 0.9 percent and a 775-point drop from its session peak.
US stocks have been under pressure thus far in 2022 as Fed Chair Jerome Powell shifts the central bank's policy from highly accommodative and supportive of growth to a tightening mode focused on reining in inflation.
"Investors are still worried about inflation and a much much tighter Federal Reserve," said Jack Ablin, chief investment officer at Cresset Capital.
In China, the central bank said it had lowered the one-year loan prime rate to 3.7 percent from 3.8 percent in December in the latest move to boost its stuttering economy.
Thursday's decision comes after the world's second-biggest economy reported strong 8.1 percent growth in 2021, though much of the expansion occurred in the first half of the year.
The central bank also cut the interest rate on its one-year policy loans on Monday -- the first drop in the key rate for loans to financial institutions since early 2020.
- Key figures around 2040 GMT -
New York - Dow: DOWN 0.9 percent at 34,715.39 (close)
New York - S&P 500: DOWN 1.1 percent at 4,482.73 (close)
New York - Nasdaq: DOWN 1.3 percent at 14,154.02 (close)
London - FTSE 100: DOWN 0.1 percent at 7,585.01 (close)
Frankfurt - DAX: UP 0.7 percent at 15,912.33 (close)
Paris - CAC 40: UP 0.3 percent at 7,194.16 (close)
EURO STOXX 50: UP 0.7 percent at 4,299.61 (close)
Tokyo - Nikkei 225: UP 1.1 percent at 27,772.93 (close)
Hong Kong - Hang Seng Index: UP 3.4 percent at 24,952.35 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,555.06 (close)
Euro/dollar: DOWN at $1.1311 from $1.1343 late Wednesday
Pound/dollar: DOWN at $1.3595 from $1.3612
Euro/pound: DOWN at 83.17 pence from 83.33 pence
Dollar/yen: DOWN at 114.18 yen from 114.33 yen
Brent North Sea crude: DOWN 0.1 percent at $88.38 per barrel
West Texas Intermediate: DOWN 0.1 percent at $86.90 per barrel
burs-jmb/cs
A.Santos--PC