LONDON—World stocks slipped to a near 2-year low and Japan’s yen was pinned near 1998 levels on Thursday, as investors braced for key U.S. inflation data later likely to shape the size of the Federal Reserve’s next interest rate hike.
Global markets have suffered a torrid few weeks and there was little sign of respite in either Asia or Europe as weak equities knocked MSCI’s 47-country world index down for a seventh straight day.
The seemingly-unstoppable dollar held its ground in the currency markets to cement the yen’s struggles, while bond traders were also watching Britain’s gilt market with the Bank of England due to end its emergency stabilization measures on Friday….