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They see the longest line the global stock market has lost in two months Business and Economic News
Global stock sales reached their longest run in two months on Wednesday as rising commodity prices and rising U.S. inflationary pressures led to earlier interest rate hikes and higher bond yields.
There was a limited recovery in the equity market in early European trading as the continent’s STOXX 600 index rose 0.4 per cent after Tuesday’s fall.
It was the leader of the FTSE 100 in London, driven by data showing a pandemic-affected economy in Britain, which grew more strongly than expected in March.
A sell-off in global shares extended to its longest losing streak in two months on Wednesday as surging commodity prices and growing inflationary pressure in the United States prompted bets on earlier interest rate hikes and higher bond yields.
A limited equity market recovery emerged in European early trade, with the continent’s shares STOXX 600 index adding 0.4 percent after Tuesday’s slump.
London’s FTSE 100 led the way, buoyed by data showing Britain’s pandemic-battered economy grew more strongly than expected in March.
MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.9 percent, having earlier touched its lowest since March 26.
Oil prices rose on Wednesday after a drop in US crude inventories reinforced Opec’s robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage. US West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.44%, to $65.57