Stagflation Fears Weigh Down Global Markets as Oil Prices Hold Steady

Global stock markets were mixed on Monday after US stocks slipped back from their all-time high following a weaker-than-expected report on the US economy.

The Dow industrials dipped 0.2%, and the Nasdaq composite shed 0.3%. The S&P/ASX 200 in Australia fell 0.5% to 9,073.20, while Taiwan's Taiex gained 0.1%.

The Japanese economy grew slightly faster than forecast in the April-June quarter, expanding at a 1.1% annual pace despite private spending and investment staying flat and export growth slowing.

Oil prices were mixed, with Brent crude rising 0.4% to $88.84 per barrel, while US benchmark crude slipped 0.2% to $82.20 per barrel.