European markets sluggish as global economic anxiety grows

By midmorning, the pan-European Stoxx 600 was down 0.2%, with telecoms down 1.2% and oil and gas up 0.8%.

Next week, the Fed may raise interest rates by 50 basis points. Investors are worried whether the central bank can avoid a recession next year in its attempt to tame inflation.

Wall Street assessed the prospect of a slump as S&P 500 futures fell for a sixth straight day.

Asia-Pacific sentiment improved overnight. Hong Kong's Hang Seng index jumped more than 3% on Thursday after a local news outlet said the city may ease Covid restrictions, including dropping its outside mask rule and eliminating mandatory arrival testing. Most other regional markets fell slightly.

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