Global Stocks Decline on Corporate Earnings Worries After Wall Street Rally Stalls
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World shares mostly fell Thursday after Wall Street hit the brakes on its big rally following disappointing corporate profit reports and warnings.
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Tokyo’s Nikkei 225 index fell 1.6% with Toyota leading losses after recalling 1 million vehicles over an airbag defect.
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Wall Street losses were widespread Wednesday, with the S&P 500 down 1.5% for its worst loss since pre-Halloween.
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FedEx shares tumbled 12.1% after reporting weaker than expected quarterly revenue and profits.
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Signs of cooling inflation in the UK and positive US economic data suggest central banks could pivot with rate cuts in 2024.