World Shares Slip as Markets Brace for More Rate Hikes
Shares opened lower in Europe after a day of declines for most Asian markets, as investors braced for another interest rate hike this week by the U.S. Federal Reserve.
Britain was observing a day of mourning for Queen Elizabeth II. Japan’s markets were closed for a holiday.
Germany’s DAX lost 0.3 percent to 12,701.41 while the CAC 40 in Paris shed 0.9 percent to 6,023.55. The future for the S&P 500 was down 0.6 percent while the contract for the Dow industrials was 0.5 percent lower.
Markets have been on edge because of stubbornly high inflation and the increases in interest rates being used to fight it. The fear is that the Fed and other central banks might overshoot their policy targets, triggering a recession….