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Global Stocks Mixed After Fed Says Ready to Act on Inflation

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Global Stocks Mixed After Fed Says Ready to Act on Inflation


BEIJING—Global stock markets mostly rose Thursday after Federal Reserve officials indicated they were ready to hike interest rates sooner than expected if needed to cool U.S. inflation. London, Tokyo, Frankfurt, and Hong Kong markets advanced, while Shanghai declined. Wall Street futures were higher. U.S. markets were closed for the Thanksgiving holiday. They reopen Friday for a shortened trading session. Fed officials at their October policy meeting said they “would not hesitate” to respond to inflation, according to notes released Wednesday. They foresaw the possibility of raising rates “sooner than participants currently anticipated.” That fueled investor fears the Fed and other central banks might feel pressure to withdraw economic stimulus that has been boosting stock prices. Fed officials earlier indicated they might raise rates late next year. Higher prices combined with stronger U.S. hiring suggest the attitude at the next Fed meeting might be “unabashedly more hawkish,” said Tan Boon Heng …

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