- Angry French cognac makers see red over Chinese tariffs threat
- Protect the prosciutto: Italy battles swine fever
- UN holds 'Summit of the Future' to tackle global crises
- Marxist leader set to become Sri Lanka's next president
- From blades to pull-up bars: UK charity tackles knife crime
- Swiss vote on pensions and environment protections
- No pain, no gain: Chinese pro wrestlers fight for recognition
- UAE leader seeks to deepen 'strategic' ties in US visit during Mideast crisis
- Hezbollah takes heavy hits but still fighting Israel
- Floods, landslides hit central Japan months after major quake
- All Blacks coach Robertson demands better finishing
- Argentina edge South Africa to keep title hopes alive
- Biden says China 'testing us,' in hot mic remarks to Quad allies
- Dubois destroys Joshua to retain IBF world heavyweight crown
- Guardiola says critics want Man City wiped 'from face of the Earth'
- Biden says 'Quad' is 'here to stay' despite challenges
- Dubois knocks out Joshua to retain IBF world heavyweight crown
- Vinicius helps 'faster' Madrid overturn stubborn Espanyol
- Zelensky to press US on long-range missile strikes inside Russia
- PSG drop first points in draw at Reims
- Vinicius, Mbappe on target as Madrid crush plucky Espanyol
- Jeeno leads Ko by two at LPGA Queen City Championship
- Bottega Veneta goes for 'E.T.' chic as Madonna pops into D&G
- Messi, Miami frustrated by New York late leveler
- Musk's X platform takes first step toward lifting Brazil ban
- 'Business as usual' for Australia match-winner Carey amid boos
- Israeli jets pound Lebanon after deadly Beirut strike
- 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
Global markets mostly sink on Fed chief's remarks
Asian and European stocks mostly sank Friday on hawkish comments from the Federal Reserve about its monetary tightening plans, sending the dollar sharply higher against the euro.
Frankfurt stocks dived 1.9 percent and Paris slid 1.7 percent in early afternoon eurozone deals, as investors shrugged off a survey showing that the bloc's economic activity accelerated in April.
London shed 0.7 percent around midday with losses capped by the slumping pound that boosts share prices of multinationals.
Sterling slumped against the dollar after data showed tumbling retail sales as Britons face a cost-of-living crisis.
The pound briefly hit an October 2020 low as British Prime Minister Boris Johnson comes under renewed political pressure.
Oil prices slumped on demand fears arising from rising interest rates in the United States and ongoing Covid restrictions in China.
- 'Cat among pigeons' -
Markets remain shaken after Fed Chairman Jerome Powell exacerbated worries over higher US interest rates late on Thursday.
Powell, who has signalled that the Fed will have to move more aggressively to counter decades-high US inflation, stated that a half-point interest rate increase was "on the table" for next month's meeting, sending Wall Street tanking.
"Further hawkish comments from the Federal Reserve Chair put another cat among the pigeons in a day of violent swings," said Richard Hunter, head of markets at Interactive Investor.
"Quite apart from the widely expected 0.5 percent rate hike in May, this could also imply similar rises in subsequent months."
That stoked worries that the Fed could send the US economy's pandemic recovery back into reverse.
"While the news should not have come as too much of a surprise, investors rushed for the exit as concerns of over-tightening and recession came back into focus," said Hunter.
Sharp price rises are forcing major global central banks to hike interest rates, in turn curbing recovery from the pandemic.
Higher lending rates tend to weigh on companies' share prices as they increase interest repayments on loans, while also further reducing consumers' incomes.
In Asia on Friday, Tokyo stocks slid more than 1.5 percent even as inflation data from Japan was in line with market expectations.
But Shanghai finished marginally higher as some Chinese Covid curbs were eased and the nation's securities regulator pushed banks and insurers to buy more stocks to lift ailing equities.
- Key figures around 1045 GMT -
London - FTSE 100: DOWN 0.8 percent at 7,568.34 points
Paris - CAC 40: DOWN 1.7 percent at 6,600.20
Frankfurt - DAX: DOWN 1.9 percent at 14,228.81
EURO STOXX 50: DOWN 1.9 percent at 3,854.39
Tokyo - Nikkei 225: DOWN 1.6 percent at 27,105.26 (close)
Hong Kong - Hang Seng Index: DOWN 0.2 percent at 20,638.52 (close)
Shanghai - Composite: UP 0.2 percent at 3,086.92 (close)
New York - Dow: DOWN 1.1 percent at 34,792.76 (close)
Euro/dollar: DOWN at $1.0805 from $1.0834 late on Thursday
Dollar/yen: DOWN at 128.36 yen from 128.38 yen
Pound/dollar: DOWN at $1.2892 from $1.3030
Euro/pound: UP at 83.82 pence from 83.15 pence
Brent North Sea crude: DOWN 1.6 percent at $106.63 per barrel
West Texas Intermediate: DOWN 1.7 percent at $101.66 per barrel
burs-rfj/bcp/lth
F.Müller--BTB