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- UK's Labour looks to be more cheerful despite gifts and welfare row
- Eurozone business activity slumps after Olympics boost
- Russia, Ukraine cross swords in sea dispute court battle
- Albania plans Sufi Muslim microstate within its borders
- EU launches WTO challenge against China dairy probe
- Murdoch's REA ups offer for property website Rightmove
- India's one-horned rhino numbers charging ahead, govt says
- Rescuers comb muddy riverbanks after Japan floods kill seven
- Asian stocks boosted by US rate cut, China stimulus hope
- Sri Lanka's new leader says no magic solution to crisis
- Israel warns Lebanese as wave of strikes hits Hezbollah
- New Socceroos coach Popovic confident he can rescue World Cup campaign
- 'Put Austrians first': On a pub crawl with far-right voters
- Trial begins in Italy student murder case that opened eyes to femicide
- Family of murdered Sri Lanka editor seek justice from new president
- Austria's far right woos anti-vaxxers with fund for vaccine 'victims'
- Long wait for justice in India's backlogged courts
- Rohingya refugees detail worsening violence in Myanmar
- Rescuers comb muddy riverbanks after Japan floods kill six
- Sri Lankan leftist leader sworn in after landslide election win
- Indonesia, NZ deny Papua rebel claim 'bribe' paid for pilot release
- Swearing, shoeys and swift legs: Singapore GP talking points
- South Korea warns of 'decisive' action against trash balloons
- Football Australia names Tony Popovic as Socceroos coach
- Japan quake, flood victim attempts fresh start with wife's memory
- Japan quake, flood victim attemps fresh start with wife's memory
- Asian markets extend gains as focus turns to US inflation
- Six dead after floods in central Japan: media
- Australian golf prodigy suffers career-threatening eye injury
- Gaza hospital a symbol of the ruin of war
- October 7: how Israel's deadliest day unfolded
- Bibles, sneakers, silver coins: Trump's merch for sale
- Met Opera opens season with tech-heavy 'Grounded'
- Colombia's Inirida flower: from 'weed' to emblem for UN meeting
- Colombia rebel group imposes control in restive coca zone
- Rams fight back to upset 49ers, Cowboys lose again
- Sri Lankan leftist leader to take office after landslide election win
- 300-kilo WWI bomb removed in Belgrade
- Zelensky in US to explain war plan to Biden, Harris, Trump
- 'Atrocious' Sudan war pushing refugees further afield: UNHCR chief
- 'Convergence' growing on global plastics treaty: UN environment chief
- MLB White Sox fall to Padres to match one-season loss mark
- All-Australian Ripper squad captures LIV Golf team crown
- Barnier promises compromise from France's embattled new govt
- Zelensky arrives in US to explain war plan to Biden
- Barca rout Villarreal but Ter Stegen hurt, Atletico draw at Rayo
- Darnold shines for Vikings, Steelers and Eagles win
- Atletico held to draw at Rayo Vallecano
- Marseille stun Lyon with 95th-minute winner after early red card
Markets mixed at start of new quarter, while oil extends losses
Equities were mixed Friday after their worst quarter since the early days of the pandemic as traders assess the impact of the war in Ukraine and the Federal Reserve's plans to fight surging inflation by ramping up interest rates.
And oil extended a sell-off following Thursday's plunge in response to news that the United States would release a million barrels a day from its reserves as it looks to rein in a price rally fuelled by Russia's conflict.
Investors suffered a torrid first three months, with markets across the planet first plunged into turmoil over central bank moves to tighten policy and reel in their Covid-era financial support measures, and then by Russian President Vladimir Putin's invasion of Ukraine.
Inflation had already rocketed to multi-decade highs in several countries before the war in eastern Europe exacerbated the problem as crucial crude supplies from Russia were slashed and sent its price to six-year highs above $100.
The developments came as profit-takers cashed out after a near two-year rally fuelled by central bank and government largesse.
Despite a pick-up in recent weeks, most indexes finished the quarter in the red.
Traders are struggling to ascertain the outlook for the next three months, with the war showing no signs of ending and the Federal Reserve just getting started on its campaign of sharp rate hikes.
The second quarter of 2022 "is going to start as messily as the first quarter has finished, with markets buffeted by a multitude of strong winds from various directions, with the outcome no clearer for the future than ever," said OANDA's Jeffrey Halley.
And Anwiti Bahuguna, at Columbia Threadneedle Investments, told Bloomberg Television that a lowering of growth forecasts for the United States, Europe and China are "something to watch very carefully".
The upcoming earnings season will be closely watched to see what impact higher inflation and the war has had on firms' bottom line and their forecasts for the year ahead.
The release of US jobs data later in the day will be closely followed for an idea about the state of the world's top economy.
All three main indexes on Wall Street finished more than one percent down but Asia ended mixed after a poor start.
Tokyo, Sydney, Seoul, Taipei, Manila, and Wellington were all down but Hong Kong finished higher thanks to a late rally while Shanghai, Mumbai, Singapore, Jakarta and Bangkok were also up.
London, Paris and Frankfurt also rose in morning trade.
Oil prices shed more than one percent, extending a selloff on Thursday that saw WTI lose seven percent after Joe Biden announced he would release up to 180 million barrels over six months.
The US benchmark was trading below $99.
The president described the move as a "wartime" measure that will defuse Russia's leverage as an energy power.
However, while the move to ease a global supply crisis was welcomed, commentators warned it would only be a stopgap and could not be a long-term solution.
"It is worth keeping in mind that 180 million barrels is approximately nine days of US demand," said SPI Asset Management's Stephen Innes. "And while one million barrels per day is better than nothing and can help balance the four million a day lost from Russia for about six months, what happens after?"
He added: "Markets are still tight, but six months could be a meaningful lifeline and reduce the chances of (more than) $150 oil."
- Key figures around 0810 GMT -
Tokyo - Nikkei 225: DOWN 0.6 percent at 27,665.98 (close)
Hong Kong - Hang Seng Index: UP 0.2 percent at 22,039.55 (close)
Shanghai - Composite: UP 0.9 percent at 3,282.72 (close)
London - FTSE 100: UP 0.3 percent at 7,535.23
Brent North Sea crude: DOWN 1.2 percent at $103.47 per barrel
West Texas Intermediate: DOWN 1.5 percent at $98.78 per barrel
Euro/dollar: DOWN at $1.1059 from $1.1067 late Wednesday
Pound/dollar: DOWN at $1.3122 from $1.3143
Euro/pound: UP at 84.28 pence from 84.20 pence
Dollar/yen: UP at 122.67 yen from 121.69 yen
New York - Dow: DOWN 1.6 percent at 34,678.35 (close)
J.Fankhauser--BTB