Global Stocks Fall After Fed Official’s Comments on Rate Increase

31 Aug 2015 | Author: | No comments yet »

Global Stocks Fall After Fed Official’s Comments on Rate Increase.

LONDON — Global stocks were mostly lower on Monday after Federal Reserve officials suggested that an increase in interest rates in September was still possible, and weak Japanese factory activity provided more evidence of a sluggish world economy. In midmorning trading, the CAC 40 benchmark index for Euronext Paris fell 0.9 percent and the DAX index of the 30 largest German companies lost 1.3 percent. Speaking at the U.S. central bank’s annual gathering in Jackson Hole, Wyoming, Fisher emphasized he was not saying what action the Fed might take at its September meeting but analysts took his comments to mean he saw the economy moving close to satisfying the Fed’s conditions for a hike. JAPAN WEAKNESS: Industrial production declined unexpectedly by 0.6 percent in July from the previous month, defying forecasts of a small increase following June’s 1.1 percent rise. “The drop in industrial production in July suggests that economic activity will recover only slowly this quarter,” said analyst Marcel Thieliant of Capital Economics in a report.

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