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Global equity markets mostly faltered on Wednesday as investors await fresh inflation data to better assess the likelihood of Federal Reserve interest rate cuts, while the dollar edged higher on expectations of U.S. economic out-performance. European stocks rose to a record high, boosted by company earnings, but stocks on Wall Street slid as a downbeat forecast from Uber knocked its shares down 5.7% and made the ride-hailing firm one of the biggest decliners on the S&P 500.
In halting a shipment of thousands of bombs, President Joe Biden has sent his most serious signal yet both to Israel and his domestic critics, although it remains doubtful he can fundamentally alter the course of the war in Gaza. Biden, a self-described Zionist, had long resisted stopping any of the $3 billion in weapons the United States sends each year to Israel – and pushed Congress for an increase in the wake of the October 7 attack by Hamas that triggered the major Israeli retaliation.But U