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Asian stocks were under pressure, with South Korean stocks narrowing their losses to 0.3%, as escalating tensions in the Middle East caused oil prices to surge.

Asian stocks were under pressure, with South Korean stocks narrowing their losses to 0.3%, as escalating tensions in the Middle East caused oil prices to surge.

Global markets continued their decline following hawkish comments from Federal Reserve Chairman Warsh, with rising expectations of interest rate hikes weighing on stocks and gold, while escalating tensions in the Middle East pushed oil prices higher, further complicating the inflation outlook. Warsh, speaking in Jackson Hole last Friday, said inflation
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Extreme heatwaves severely damage the European economy: the death toll exceeds 35,000, grape harvests fail, factories reduce production, and GDP growth may be dragged down by 0.2 percentage points.

Extreme heatwaves severely damage the European economy: the death toll exceeds 35,000, grape harvests fail, factories reduce production, and GDP growth may be dragged down by 0.2 percentage points.

In the summer of 2026, an unprecedented extreme heat wave will sweep across Europe, reshaping the continent's economic landscape in a quantifiable way. According to a recent report by The Wall Street Journal, Oxford Economics economist Tomas Dvorak estimates that the record-breaking heatwave will push up food inflation
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