Stock market today: Global shares drop after Wall Street sinks on rate worries
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Global shares mostly declined after Wall Street had its worst day in weeks. France's CAC 40 edged up 0.1% in early trading, Germany's DAX rose 0.3%, and Britain's FTSE 100 dropped 0.6%. Japan's benchmark Nikkei 225 slid 0.8%, Sydney's S&P/ASX 200 slipped 1.3%, South Korea's Kospi dropped 1.4%, Hong Kong's Hang Seng lost 1.1%, and the Shanghai Composite fell 0.2%. Worries are growing that the turbulence in Wall Street might spread to Asia. China has set a target of around 5% economic growth this year. Moody's Ratings report says China's slowing economy will aggravate difficult business conditions for Japanese manufacturers. Traders have reduced their expectations for how many times the Federal Reserve will cut interest rates this year. In energy trading, benchmark U.S. crude added 4 cents to $85.19 a barrel. The U.S. dollar rose to 151.71 Japanese yen from 151.54 yen. 

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https://apnews.com/article/stock-markets-inflation-ae64cbb7a42eb0b9d050a09da68d7c7b