Global stock prices fell sharply Thursday after Wall Street plunged in the wake of some fairly hawkish commentary from the Federal Reserve about future U.S. interest rate increases. However, many European indexes have come off their lows amid hopes that the U.S. will open slightly firmer later. FED WATCH: Investors have had another bout of jitters in what is turning into a disappointing end of year for global stock markets, which has seen many indexes enter bear-market territory. That lifted the Fed's benchmark rate to its highest level since the 2008 global financial crisis. The Fed said it expects two rate increases next year instead of three.

Source: ABC News December 20, 2018 05:45 UTC