GLOBAL MARKETS-Shares deepen losses as U.S. inflation data adds to case for Fed rate hike


* U.S. consumer inflation hits 7.9%

* Wall Street futures down 1%-1.4%

* ECB to end asset purchases in Q3

* Euro STOXX falls 2.6%

* Euro rebounds, euro zone bond yields

* Senior Russian, Ukrainian officials in talks in Turkey

* Oil prices up in volatile trading

By Tom Wilson

LONDON, March 10 (Reuters) – Shares wilted on Thursday as inflation in the United States raced to almost 8%, likely cementing the case for an interest rate hike by the U.S. Federal Reserve, and the European Central Bank sped up its exit from its massive stimulus programme.

Data showed consumer inflation running at a 7.9% annualised clip in February, bang on analysts’ expectations. Wall Street futures barely budged on the data and were last down between 1% and 1.4%.

Stocks had already been under pressure after the European Central Bank accelerated its exit from extraordinary stimulus, in a surprise move, as soaring inflation outweighed concerns about Russia’s invasion of Ukraine.

The ECB said…

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