- Titan sub had to abort a dive days before fatal implosion: testimony
- Ohtani makes MLB history with first 50-homer, 50-steal season
- Ohtani eyes MLB history after surpassing 50 stolen bases, 49 homers
- Ohtani eyes MLB history after surpassing 50 stolen bases
- Barca downed by Monaco as Arsenal held in Champions League stalemate
- Head's 'good night at office' after century seals win over England
- Dubois seeks legitimacy with Joshua scalp
- Rate cut could lift consumer spirits before US elections
- Last-gasp Gimenez strike sends Atletico past Leipzig
- Barca stumble at Monaco after early red card
- Raya heroics save Arsenal in Champions League opener at Atalanta
- Cathay Airbus engine fire linked to cleaning: EU regulator
- Guardians beat Twins to secure MLB playoff berth
- Jihadist attack in Mali capital killed more than 70: security sources
- Alonso hails 'efficient' Leverkusen after Feyenoord rout
- Head's hundred seals Australia win over England in 1st ODI
- Ex-Man United striker Anthony Martial joins AEK Athens
- NFL unbeatens meet as Texans visit Vikings, Steelers host Chargers
- Head's hundred seals Australia win over England in 1st ODI after Labuschagne strikes
- Dream debut for Wirtz as Leverkusen thump dire Feyenoord
- Myanmar flood death toll climbs to 293: state media
- Israel army says West Bank air strike kills 4 militants
- LIV golfers get green light for US Ryder Cup team, PGA Championship
- US accuses social media giants of 'vast surveillance'
- Ten Hag to bed Hojlund, Mount in carefully when they return for Man Utd
- Breaking bad as McIlroy endures 'weird' day
- EU chief announces $11 bn for nations hit by 'heartbreaking' floods
- Spanish PM, Palestinian leader urge Mideast de-escalation
- New study reinforces theory Covid emerged at Chinese market
- World Bank boosts climate financing by 10 percent
- Bagnaia eyeing summit on home ground in 100th MotoGP
- 'Something was wrong', defendant in French mass rape tells court
- Hezbollah chief admits 'unprecedented' blow in device blasts
- Sales of US existing homes slip slightly in August
- Fear, panic haunt Lebanese after devices explode
- Labuschagne sparks Australia fightback in England ODI opener
- S.Africa's HIV research power couple says fight goes on
- Why is Israel focusing on border with Lebanon?
- Mpox vaccines administered in Rwanda, first in Africa
- US Fed rate cut is 'very positive sign' for economy: Yellen
- Unknown Mozart string trio discovered in Germany
- 'Are we five-year-olds?' F1 drivers won't mind their language
- Brazil judge orders X to reimpose block or face hefty fine
- Munich to rename stadium street after Beckenbauer
- Champions Italy to face Argentina in Davis Cup Final 8
- The winding, fitful path to weight loss drug Ozempic
- Italians defeat American Magic to reach Louis Vuitton Cup final
- Norris has 'nothing to lose' as he hunts Verstappen in Singapore
- Kyiv 'outraged' at Swiss showing of Russian war film
- French city renames Abbe Pierre square after abuse claims
Stock markets dip as Ukraine worries return
European and US stock markets drifted lower while oil prices rose on Wednesday as investors tracked developments surrounding the Ukraine crisis and awaited fresh clues about the US Federal Reserve's interest rate plans.
Asian stock markets mirrored strong rebounds on Wall Street and across Europe seen Tuesday on hopes Russia would not invade Ukraine after Moscow said some of its troops on the countries' border were pulling back.
But NATO warned Russia is continuing to mass forces for a possible invasion while the Russian parliament called on President Vladimir Putin to recognise Ukraine's two separatist republics as independent.
"The latest developments have created some hesitation in the futures market," Briefing.com analyst Patrick O'Hare said in a note before Wall Street opened for trading.
"But what's notable about that is that the concern about the latest developments pales in comparison to the relief the market expressed yesterday at the idea of a troop pullback," he added.
Stock markets have swung sharply this week on developments in the Ukraine crisis.
"We're basically drifting from one crisis to another at the minute; from soaring inflation and higher interest rates to deteriorating living standards and now the prospect of conflict in Ukraine, which in turn exacerbates the first two," said OANDA analyst Craig Erlam.
"With tensions easing on the border, attention has quickly shifted back to inflation following some more disappointing figures this morning," he added.
UK annual inflation has hit the highest level since 1992, official data showed Wednesday, adding pressure to the cost of living and on the Bank of England to keep raising rates.
Global inflation has reached heights not seen in decades, largely owing to a surge in energy prices as economies reopen from pandemic lockdowns.
- Stubborn inflation -
World oil prices this week struck the highest levels since 2014, as investors grow increasingly worried about energy supplies in the event of a war between major producer Russia and Ukraine.
Crude futures were back on the rise again Wednesday after tumbling Tuesday on easing conflict fears.
Observers have warned that oil could soon break above $100 per barrel.
"Volatility and uncertainty is just going to be heightened. That can be due to Russia-Ukraine, it could be due to stubborn inflation," Brenda O'Connor Juanas at UBS told Bloomberg Television.
US producer prices rose twice as much as expected in January, firming expectations that the Federal Reserve will from next month begin a series of US interest rate hikes.
Investors are awaiting the release later Wednesday of minutes from the Fed's January policy meeting, hoping it will provide clues about the pace and timing of rate hikes.
While the European Central Bank is sitting tight for now, it should start thinking about gradually withdrawing economic stimulus measures, as the risk of acting "too late" against soaring inflation grows, an ECB policymaker has told the Financial Times.
The comments late Tuesday by Isabel Schnabel, a member of the ECB's executive board, come as the eurozone experiences record-high annual inflation at 5.1 percent.
- Key figures around 1430 GMT -
London - FTSE 100: DOWN 0.5 percent at 7,570.31 points
Frankfurt - DAX: DOWN 0.4 percent at 15,352.91
Paris - CAC 40: DOWN 0.6 percent at 6,938.48
EURO STOXX 50: DOWN 0.5 percent at 4,123.86
New York - Dow: DOWN 0.3 percent at 34,899.93
Tokyo - Nikkei 225: UP 2.2 percent at 27,460.40 (close)
Hong Kong - Hang Seng Index: UP 1.3 percent at 24,675.63 (close)
Shanghai - Composite: UP 0.6 percent at 3,456.83 (close)
Brent North Sea crude: UP 1.8 percent at $94.94 per barrel
West Texas Intermediate: UP 1.5 percent at $93.48 per barrel
Euro/dollar: DOWN at $1.1354 from $1.1361 late Tuesday
Pound/dollar: UP at $1.3556 from $1.3541
Euro/pound: DOWN at 83.78 pence from 83.88 pence
Dollar/yen: DOWN at 115.55 yen from 115.62 yen
burs-rl/lth
L.Janezki--BTB