World stocks spooked by US rate hike prospect

Speculation that the Fed may tighten rates in September also weighed on New York, but bargain-hunting lifted Wall Street into mildly positive territory after a weaker start. Eurozone markets in particular were also worried by signs that the European Central Bank has become less aggressive in its support for the economy, including with its huge quantitative easing programme. "The market is continuing the trend seen at the end of last week after the ECB met.