Global stocks mixed after Fed says ready to act on inflation

By JOE McDONALD AP Business Writer

BEIJING (AP) — Global stock markets are higher after Federal Reserve officials indicated they were ready to hike interest rates sooner than expected if needed to cool U.S. inflation.

London, Tokyo, Frankfurt and Hong Kong advanced while Shanghai declined. U.S. markets were closed for a holiday.

Notes of the Fed's October policy meeting showed officials said they "would not hesitate" to respond to inflation.

That fueled investor fears the Fed and other central banks might feel pressure to withdraw economic stimulus that has been boosting stock prices.

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