European stocks fell sharply on Thursday after data showed consumer inflation rose at its fastest rate since 2008 last month, raising worries about whether the Federal Reserve will have to tighten policy sooner than it would like.
U.S.-China tensions also remained in focus, with the U.S. accusing the Chinese government of turning Xinjiang into an "open-air prison" by expanding surveillance in the north-western region.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.