SINGAPORE | Stock market drop spreads, Wall Street set to fall again
SINGAPORE — World stock markets sank Thursday, extending losses from Wall Street, as investors worried that higher interest rates will dent company earnings and a trade war will crimp global business.
European shares sank after Asia closed sharply lower, auguring another drop in the U.S., which saw its major indexes tumble on Wednesday.
Investors will be looking ahead to U.S. inflation data later in the day. A high reading could fuel expectations that the Federal Reserve will keep raising its interest rates at a steady pace, reining in the easy money policy that had fueled stock markets in recent years.