News Highlights: Top Global Markets News of the Day - Thursday at 7 AM ET
Stock futures were clawing back a little ground after the Federal Reserve triggered a steep selloff by suggesting interest rates could stay higher next year than investors expected.
Inflation risks from the incoming administration's agenda can't be ignored any longer.
In a 12-hour social-media barrage, the world's richest man led a rebellion against a bill aimed at keeping the government funded.
Indexes were lower in Europe's morning trade, as markets digested hawkish comments from the Fed's Powell which left investors blindsided, Richard Hunter, Head of Markets at Interactive Investor, said.
The mood in the country's factories was stable as manufacturers shrugged off fractured politics and trade uncertainty, looking forward to higher demand for their goods in the new year.
German consumers feel a little less gloomy about the turn of the new year, with prospects of a fresh government and further cuts to borrowing costs.
The Bank of Japan held its policy rate steady as it waits for uncertainties in the U.S. to clear and for more evidence of wage growth at home, but expectations of rate hikes on the horizon remain intact.
Taiwan's central bank maintained interest rates unchanged again, delivering a third consecutive hold as it keeps a watchful eye on inflation and signs of overheating in the housing market.
The Riksbank cut its key interest rate by a quarter of a percentage point to 2.50% and signaled that borrowing costs could be lowered again next year to support the stuttering economy.
Norway's central bank held its key policy rate at 4.5% as it pushes on with efforts to bring inflation down, but said it will likely begin monetary policy easing in March.