Shares slipped in New York and Europe as the latest US inflation report strengthened the case for a slower pace of interest rate cuts. All three major US Wall Street indexes were lower in early trading, following the Dow and the S&P 500 reaching all-time highs on Wednesday.
In Europe, Paris and Frankfurt experienced declines, while London remained relatively unchanged. Earlier, Chinese stock markets rebounded, closing with solid gains after the central bank's actions to boost company share purchases.
The US annual inflation rate slowed to 2.4 percent in September from 2.5 percent in August. However, a core inflation measure rose to 3.3 percent, raising questions about future Federal Reserve rate cuts. Analysts suggest that the recent job report and inflation figures may limit the likelihood of significant rate reductions in the near term.
In London, GSK shares surged over five percent following a $2.3 billion settlement to resolve lawsuits regarding its Zantac drug. Meanwhile, Hong Kong's market rose by 3.0 percent as investors welcomed the People's Bank of China's announcement of a liquidity facility aimed at supporting equity purchases.
Oil prices also saw a jump of around 1.5 percent amid ongoing volatility, influenced by geopolitical tensions in the Middle East.