Stocks Mixed After Positive US Factory Data Stalls Record Rally Over Rate Hike Worries
• Global stocks mixed after strong US factory data prompts Wall Street retreat
• European markets mostly higher after initial slip; Asia mixed with Hong Kong up 2.4% but Chinese developer Vanke plunging 12.9%
• US indexes mostly lower with S&P 500 and Dow slipping from record highs; Nasdaq edges up
• Treasury yields jumped as US manufacturing unexpectedly returned to growth, spurring inflation and rate hike worries
• Upbeat economic data could mean more Fed interest rate hikes than hoped, challenging stock rally narrative