- Ten Hag bemoans Man Utd's lack of killer instinct in Palace stalemate
- France's Macron appoints new government in shift to right
- Cheika proud of Leicester grit after winning start as boss
- Profligate Man Utd pay price in 0-0 draw at Palace
- Kane, Olise run riot as Bayern thump Bremen
- Diaz fires Liverpool top of Premier League, Man Utd held at Palace
- LIV champion Rahm out of LIV Team semis with severe flu
- Slot surprised by tearful Nunez's moment of magic
- Title rivals Norris, Verstappen on 'cool' front row for Singapore GP
- Biden talks China with 'Quad' leaders in hometown summit
- Juve and Napoli play out goalless draw in early Serie A title tussle
- Alcaraz fears tennis tour grind will 'kill us'
- Carey sparks recovery as Australia thrash England in 2nd ODI
- Leclerc, Sainz lament 'disappointing' Saturday in Singapore
- Bottega Veneta holds investors' aces as Madonna pops into D&G
- Beirut digs for victims at building flattened in Israeli strike
- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
- Diaz fires Liverpool top of Premier League, Spurs bounce back
- Heavy fire over Israel-Lebanon border after deadly Beirut strike
- Ramos guides unbeaten Toulouse to Montpellier win despite Hogg scuffle
- Myanmar flood death toll jumps to 384
- Chelsea owners 'happy' with win at West Ham amid rift report
- Kane and Olise run riot as Bayern thump Bremen
- Ramos guides unbeaten Toulouse to Montpellier win
- Norris pips Verstappen to dramatic Singapore pole after Sainz crash
- Carey takes Australia to 270 in 2nd ODI against England after collapse
- Two Hezbollah leaders killed in Israel's Beirut strike
- Hungary Danube waters reach decade high after Storm Boris
- Bagnaia cuts Martin's MotoGP lead with Emilia-Romagna sprint win
- Jackson double fires Chelsea to victory at woeful West Ham
- Fiji beat Japan to lift Pacific Nations Cup
- Kasatkina to face Haddad Maia in Korea Open final
- S.Africa snowfall closes roads, strands motorists overnight
- Lawyers of women alleging Al-Fayed sex abuse receive over 150 new enquiries
- President Museveni's son backs Ugandan strongman for 7th term
- Norris quickest as Verstappen bounces back in Singapore practice
- Wallabies lament All Blacks' fast start
- Germany's Oktoberfest opens under tight security after attacks
- Environmental protesters block French cruise liner port
- Hezbollah in disarray after Israeli strike kills top commanders
- No place like home: Biden hosts 'Quad' leaders
- One dead, 7 missing as heavy rains trigger floods in central Japan
- Zelensky says no UK, US go-ahead to use long-range missiles
- New Zealand edge Australia 31-28 in Bledisloe Cup thriller
- Japan orders evacuations as heavy rains trigger floods in quake-hit area
- New Zealand pilot freed in Indonesia after 19 months in rebel captivity
- Hezbollah in disarray after Israeli air strike kills top commanders
- Leading climate activist released from Vietnam jail
- Ethiopians struggle with bitter pill of currency reform
US stocks fall on latest hot inflation report; oil prices rise
Equity markets in Europe and New York fell Tuesday following another report showing red-hot US inflation, while oil prices pushed higher.
The consumer price index surged 8.5 percent in March compared with a year ago, the biggest jump since December 1981. CPI climbed 1.2 percent over February's level.
The report was the first to fully encompass the shock caused by Russia's invasion of Ukraine and Western sanctions against Moscow, which have caused energy and food prices to spike worldwide.
Higher prices for food, shelter and fuel are "likely forcing some people to do without," said economist Joel Naroff.
Though the Federal Reserve is poised to raise interest rates quickly to tamp down inflation pressures, the effects would not be immediate.
"Inflation should moderate, if only because some of the biggest increases are behind us. But there is a difference between decelerating and low," Naroff said.
"Since monetary (policy) works with a lag, don’t expect major progress on the inflation front even if the Fed acts aggressively."
US equities initially climbed on the inflation data, with some analysts appearing to view the report as corroborating "peak inflation" narrative based on the idea that pricing pressures will soon ease.
But stocks lost steam later in the session, with the S&P 500 finishing 0.3 percent lower. Some analysts pointed to nervousness heading into the earnings season.
Shares of large banks fell more than one percent ahead of quarterly results, which kick off Wednesday morning with JPMorgan Chase.
Analysts expect banks to report lower earnings compared with last year, when profits from were lifted by the release of funds set aside early in the pandemic in case of bad loans.
Meanwhile, European markets fell, with London's FTSE 100 ending the day down 0.6 percent. Frankfurt off 0.5 percent and Paris shedding 0.3 percent.
Oil prices advanced more than six percent, lifting US benchmark West Texas Intermediate back above $100 a barrel.
"The crude correction ended now that the market has mostly priced in the strategic petroleum release plan, China is beginning to lift some of their lockdowns and as negotiations between Russia and Ukraine appear to have hit a dead-end," said Oanda's Edward Moya.
"The energy market expects to remain very tight from the summer and if geopolitical risks remain elevated, $100 oil should easily hold."
- Key figures around 2040 GMT -
New York - Dow: DOWN 0.3 percent at 34,220.36 (close)
New York - S&P 500: DOWN 0.3 percent at 4,397.45 (close)
New York - Nasdaq: DOWN 0.3 percent at 13,371.57 (close)
London - FTSE 100: DOWN 0.6 percent at 7,576.66 (close)
Paris - CAC 40: DOWN 0.3 percent at 6,537.41 (close)
Frankfurt - DAX: DOWN 0.5 percent at 14,124.95 (close)
EURO STOXX 50: DOWN 0.2 percent at 3,831.47 (close)
Tokyo - Nikkei 225: DOWN 1.8 percent at 26,334.98 (close)
Hong Kong - Hang Seng Index: UP 0.5 percent at 21,319.13 (close)
Shanghai - Composite: UP 1.5 percent at 3,213.33 (close)
Brent North Sea crude: UP 6.3 percent at $104.64 per barrel
West Texas Intermediate: UP 6.7 percent at $100.60 per barrel
Euro/dollar: DOWN at $1.0832 from $1.0884 late Monday
Dollar/yen: DOWN at 125.33 yen from 125.37 yen
Pound/dollar: DOWN at $1.3002 from $1.3030
Euro/pound: DOWN at 83.28 pence from 83.53 pence
burs-jmb
D.Schneider--BTB