World markets slipped Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy.
European benchmarks were marginally lower while Asia saw bigger losses. U.S. futures edged higher, with the contracts for the Dow industrials and the S&P 500 up 0.3 percent. European futures were lower.
Tuesday’s report showed U.S. inflation slowed only to 8.3 percent in August, instead of the 8.1 percent economists expected. That dashed hopes that inflation was falling back to more normal levels after peaking in June at 9.1 percent, allowing the Federal Reserve to moderate its interest rate hikes….