Stocks Steady, Dollar Gains as Investors Ponder Fed Rate Cuts

Stocks Steady, Dollar Gains as Investors Ponder Fed Rate Cuts
A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, on Oct. 1, 2008. Toby Melville/Reuters
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LONDON—Global shares hovered around three-month highs on Wednesday and the dollar found support as investors tempered some of their earlier enthusiasm about the prospect of the start of a series of U.S. interest rate cuts.

The MSCI All-World index fell 0.1 percent, down for a second day following the decline on Wall Street, after minutes from the Federal Reserve’s most recent meeting offered little new insight into policymakers’ thinking on rates.