New York — World stock markets recovered on Wednesday from initial losses after Moody’s first credit downgrade of China in 30 years, with investors turning their attention to US Federal Reserve minutes that could provide more certainty of a rate hike next month. Asia stocks and emerging markets initially skidded after Moody’s Investors Service’s downgraded China, cutting its sovereign debt to A1 from Aa3. But dented markets mostly recovered. Japan’s Nikkei rose 0.66% and emerging market stocks rose 0.05%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.05% lower. Markets were lacking fresh economic or corporate drivers. Investors shrugged off the rise in Britain’s terror threat level to maximum in the wake of Monday’s attack in Manchester. The Dow Jones Industrial Average rose 20.59 points, or 0.1%, to 20,958.5, the S&P 500 gained 1.15 points, or 0.05%, to 2,399.57 and the Nasdaq Composite added 7.18 points, or 0.12%, to 6,145.89. The US dollar hovered just above...
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