Market succumbs to U.S. inflation woes
Shares were sold down as investors kept tabs on economic data to see if inflation is cooling off or if the US Federal Reserve’s rate hikes are pushing the US closer to a recession
Oil prices climbed after major producers announced a big production cut. The Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, on Wednesday announced a major slash of 2 million barrels per day starting November to bolster oil prices that have recently tumbled over recession fears. | Wang Zhou/Xinhua
