Global stocks sink on worries over inflation, supply chains

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Global stock markets and Wall Street futures have fallen after the Federal Reserve indicated it might raise interest rates more aggressively to cool U.S. inflation and President Emmanuel Macron emerged from the first round of France’s election facing a challenge from the far right. In Asia, the Shanghai Composite Index lost 2.6% after inflation rose faster than expected in March amid upward pressure on global prices due to uncertainty about Russia’s war on Ukraine. Also in China, automakers and other manufacturers fell as authorities tightened anti-disease controls to stop coronavirus outbreaks in Shanghai and other cities. Oil prices declined.