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News Highlights: Top Global Markets News of the Day

Dow Industrials Fall Into Bear Market 

Major stock indexes turned downward, with concerns about the world economy pushing financial markets into disarray and the Dow industrials into a bear market.

World Bank Cuts China Growth Forecast 

Emerging economies in East Asia are seen outpacing China for the first time since 1990.

China's Industrial Profits Drop Further 

The country's industrial profits fell 2.1% in the January-August period, widening from the 1.1% drop recorded in the first seven months of the year.

'Financial markets are throwing in the towel': Recession fears escalate as Fed slams brakes on the economy 

The likelihood of sharply higher interest rates has tilted the odds toward another recession within a year, economists say. Yet some still hold out hope the U.S. can muddle through with a period of slow growth instead of outright decline.

Global bonds are in first bear market in 76 years based on two centuries of data, says Deutsche Bank 

The last time global bonds fared so poorly was in 1946, the year that the first session of the United Nations was held in London after the end of World War II.

Texas Factory Activity Extends Losses to September Despite Pickup in Output 

Factory activity in Texas contracted in September for the fifth consecutive month but manufacturing output expanded, data from the Federal Reserve Bank of Dallas showed.

Three Men Charged in Stock Scam Involving $100 Million Deli 

A former stockbroker and two accomplices turned a small sandwich joint into a trading fraud, according to federal prosecutors in New Jersey.

British Pound, Bonds Roiled as Tax-Cut Plans Spook Investors 

U.K. financial markets were rattled again by investor worries that the country's largest tax cuts in decades would spark higher inflation and put government finances at risk.

Italy's Election Winner Will Have to Work With Europe on Economy 

Election victor Giorgia Meloni faces heavy economic and diplomatic constraints as she seeks to chart a new course with her right-wing coalition.

Boston Fed President Says More Rate Increases Needed to Cool Inflation 

Susan Collins, the new president of the Federal Reserve Bank of Boston, said she is committed to bringing inflation down to 2% even if it means slowing the economy.


(END) Dow Jones Newswires

September 27, 2022 01:15 ET (05:15 GMT)

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