Posted 2/20/2024, 7:14:20 AM
Global Markets Mixed as China Cuts Key Rate, Inflation Damps Fed Cut Hopes
- Global shares traded mixed on Tuesday, the second day Chinese markets opened after Lunar New Year break
- France's CAC 40 rose while Germany's DAX dipped slightly; FTSE 100 was little changed
- China's central bank cut its 5-year loan prime rate to 3.95%, likely to support property market recovery
- Benchmarks rose in China but slipped in Tokyo, Sydney and Seoul
- Recent U.S. wholesale inflation report indicates rising prices continue, dampening hopes for earlier Fed rate cuts