Global stocks lower after Fed gives no details of rate hikes

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Global stock markets and Wall Street futures are mixed after Federal Reserve policymakers indicated they are leaning toward more decisive action on inflation but set no firm targets. London and Tokyo declined while Shanghai and Frankfurt advanced. Wall Street closed mixed Wednesday after notes from the latest Fed meeting showed officials suggested a faster pace of interest rate hikes “would likely be warranted” due to inflation that has raised concern that consumers might pull back on spending. Japan reported its exports grew less than forecast in January. Markets rallied this week after Moscow said it removed some troops near the Ukraine border, but Western officials expressed doubt about that.