LONDON/HONG KONG—Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession.
MSCI’s broadest index of world stocks, which rose almost 6 percent last month as the U.S. Federal Reserve paused its cycle of aggressive rate hikes, was flat in light trading, with Wall Street closed for the July 4 holiday.
Europe’s Stoxx 600 share index added 0.2 percent.
Earlier in the session, Australia’s central bank held interest rates steady at 4.1 percent, saying it needed time to assess the economic impact of its rate hikes so far….