Shares slipped in New York and Europe Thursday as the latest US inflation report strengthened the case for a slower pace of interest rate cuts and dented a recent rally.
All three major US Wall Street indexes were marginally lower in midday trading, after the Dow and the wider S&P 500 had chalked up all-time highs Wednesday.
In Europe, Paris, Frankfurt and London all closed slightly lower.
Earlier in the day, Chinese stock markets rebounded somewhat after China’s central bank took action to boost purchases of company shares.
As measured by the consumer prices index, US annual inflation slowed to 2.4 percent in September from 2.5 percent in August, the government reported.
But a core measure of inflation that strips out volatile food and energy costs rose to 3.3 percent from 3.2 percent in August.
Both…
