Global markets wobble on the heels of U.S. stock plunge.

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Consumer prices in Britain rose 9.9 percent in August from a year earlier, a slight easing of the inflation rate and the first decline in nearly a year, signaling that inflation may have reached its peak, or be very near it.While this sign of a turnaround in the trajectory of inflation is likely to bring some relief to lawmakers and policymakers, it will provide only limited comfort to consumers. With prices rising at the fastest pace in 40 years, households are still feeling the squeeze on their budgets, and the Bank of England will remain under pressure to raise interest rates.The …

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