Stocks in Asia and Europe are hurting after several Fed officials called for the central bank to raise interest rates
Stocks in Asia
fell in sympathy with crude oil, with losses exacerbated by growing
concerns the Fed may raise interest rates sooner rather than later. China's Shanghai Composite sank 1.6%, led lower by commodity stocks, after Premier Li Keqiang said Beijing won't purposefully weaken the yuan to help exports. Elsewhere, Hong Kong's Hang Seng dropped 1.3% and South Korea's Kospi took a 0.5% hit. Meanwhile, a stronger yen weighed on Japanese exporters, pressuring the Tokyo-based Nikkei 0.6% lower.
As in Asia, European markets are getting hammered by
hawkish remarks made by Fed officials on Wednesday, and lingering fears surrounding the
terrorist attacks in Brussels -- with energy stocks particularly hard-hit by a stronger dollar. At last check, London's FTSE 100 is down 1.4%, the German DAX has plunged 1.3%, and France's CAC 40 is 1.9% lower.
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