Market Jitters: Global Stocks Dip Amid Inflation Concerns

Global stocks fell, halting their three-session rise, following unexpectedly high U.S. inflation and jobless claims. Despite the data, markets expect a Federal Reserve rate cut in November. Key U.S. indices and global market gauges slipped, while oil prices rose due to heightened fuel demand and regional supply risks.

Global markets took a hit as stocks slipped for the first time in three sessions, reacting to U.S. inflation data and a surge in jobless claims that, however, didn't deter expectations of a Federal Reserve rate cut in November.

U.S. consumer prices saw a slight increase in September with higher food costs; the annual inflation rise was minimal in over three years. Meanwhile, an unexpected jump in jobless claims partly attributed to Hurricane Helene, solidified predictions for an interest rate cut.

U.S. key indices, along with global stock gauges, experienced declines. Despite a strong payroll report tempering rate cut expectations, developments in oil prices and remarks from central bank officials kept markets on edge.

(With inputs from agencies.)