Global stocks slide for 2nd day after oil decline
LONDON (AP) — Global stock markets fell sharply Thursday as oil prices slid and a U.S. Federal Reserve official argued for a possible interest rate hike that saw the dollar gain ground.
James Bullard, president of the St. Louis Federal Reserve Bank, pointed to a broadly unchanged economic outlook and said a case could be made for a possible rate hike next month if the next round of jobs data exceeds official targets.
After a period of sustained gains, oil prices were back under pressure as concerns over excess supplies returned following U.S. stockpiles data.
ANALYST TAKE: "Markets have taken a turn lower, taking their cue from a difficult session last night in the U.S. and a mixed session in Asia," said Chris Beauchamp, senior market analyst at IG.