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AP National Business

Global shares decline on Fed chief’s comments on inflation

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KMIZ

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Published 4:27 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Global shares have tracked losses on Wall Street after Federal Reserve Chair Jerome Powell indicated increases in interest rates must be faster to fight inflation. Most major indexes declined, though Shanghai edged higher after authorities there promised to ease anti-virus controls on truck drivers that are hampering food supplies and trade. Oil prices fell more than $2 a barrel. Investors are watching developments in Ukraine and a presidential runoff election in France this weekend. Japanese Finance Minister Shunichi Suzuki made comments suggesting a slightly more forceful pushback against “sudden movements” in exchange rates, as the dollar remained at a 20-year high level of 128 yen. 

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