Shares have fallen in most world markets ahead of a key U.S. inflation report due Friday.
The Fearless Girl statue stands in front of the New York Stock Exchange on Wednesday, June 26, 2024 in New York. Shares have advanced in Europe and Asia after a rebound for Nvidia offset weakness on Wall Street. – Shares fell Thursday in most world markets ahead of a key U.S. inflation report due Friday that might point the way ahead for interest rates.Recommended Videos
The latest updates on inflation could influence the central bank’s decision on when to begin cutting interest rates, which remain at their highest level in more than 20 years and which are having an impact worldwide. Other Chinese cities have taken similar measures in line with national policies aimed at enticing buyers back into a market that has languished since the government cracked down on excessive borrowing by developers. That caused dozens of such companies to default on their debts and the downturn has dragged on the entire economy, the world's second largest.
Elsewhere in Asia, Australia's S&P/ASX 200 fell 0.3% to 7,759.60. Taiwan's Taiex lost 0.4% and Bangkok's SET sank 0.5%. Shares rose in Mumbai, Jakarta and Singapore. FedEx helped offset the losses with a gain of 15.5%. The package carrier reported results for its latest quarter that easily beat forecasts.soared 23.2% after Volkswagen said it would invest up to $5 billion in the struggling maker of electric vehicles.
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