BEIJING—Global stock markets and Wall Street futures mostly declined Thursday after the Federal Reserve said U.S. inflation is too high despite aggressive rate hikes, suggesting support for more increases.
London, Shanghai, Tokyo, and Hong Kong declined. Frankfurt opened higher. Oil prices edged up.
Notes released Wednesday from the Fed’s July 26–27 board meeting said inflation is “unacceptably high” despite signs U.S. economic growth is weakening. Board members saw “little evidence” inflation pressures are subsiding.
Investors worry aggressive rate hikes imposed by the Fed and central banks in Europe and Asia this year to tame inflation that is running at multi-decade highs might derail global economic growth….