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U.K. stocks ended a highly volatile session slightly lower on Wednesday after the British government laid out plans for spending and taxes as it works to exit from the European Union. U.K. Treasury chief Philip Hammond outlined the last budget before the U.K. begins its flight out of the European Union. He said the 2017 forecast for British economic growth was upgraded, to 2% from a previous estimate of 1.4%. But growth is expected to slow in 2018.
The Dow industrials and S&P 500 closed lower for a third consecutive session Wednesday as oil prices dropped and a stronger-than-expected report on private-sector employment helped to bolster expectations for an interest-rate hike next week.
Prices in China rose less than expected in February as demand for food eased after the Lunar New Year holiday, the third piece of Chinese data that raised eyebrows this week. China's consumer-price index inched up 0.8% in February from a year earlier, compared with a 2.5% gain in January, the National Bureau of Statistics said Thursday.
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