World shares extend losses as specter of recession looms

World shares were mostly lower on the start of weeks trading, with Chinese markets logging moderate losses after reopening from a weeklong holiday to news of more lockdowns in China due to rising COVID-19 cases.
Shares fell in Hong Kong, Shanghai, Paris and London but rose in Frankfurt. Markets in Tokyo were closed for a holiday.
The declines followed yet another dismal end to the week on Wall Street as a strong U.S. jobs report added to worries the Federal Reserve might consider the higher-than-expected hiring data as proof the economy hasn’t slowed enough to get inflation under control.
That might mean still more hefty rate hikes that could make a recession more likely. A U.S. consumer prices report on Thursday will be one of the biggest factors for markets this week. Investors also are awaiting the latest updates on how companies are dealing with higher prices and interest rate hikes.
Germany’s DAX edged 0.1% higher to 12,289.96, while the CAC 40 in Paris slipped 0.5% to 5,837.25. Britain’s FTSE 100 declined 0.5% to 6,956.55.