Global Stocks Lower After Fed Says US Inflation Too High

A currency trader watches monitors near screens showing the Korea Composite Stock Price Index (KOSPI) (L) and the foreign exchange rate between the U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, on Aug. 18, 2022. Lee Jin-man/AP Photo

BEIJING—Global stock markets and Wall Street futures mostly declined Thursday after the Federal Reserve said U.S. inflation is too high despite aggressive rate hikes, suggesting support for more increases.

London, Shanghai, Tokyo, and Hong Kong declined. Frankfurt opened higher. Oil prices edged up.