Global stocks and Wall Street futures fell Friday after higher-than-expected U.S. inflation dashed hopes the Federal Reserve might back off plans for more interest rate hikes.
London and Frankfurt opened lower. Shanghai, Tokyo and Hong Kong retreated. Oil prices declined.
Wall Street’s benchmark S&P 500 index lost 1.1% on Thursday, adding to declines after August inflation stayed near a four-decade high despite four interest rate hikes this year to slow the economy.
