ToME: the Tales of Maj'Eyal

I found a ring with some nice stats, and this one as well: Slows global speed by 30%.

So, does this mean the world around me slows down (I'm now faster relative to them), or does it slow me down (i.e., it's a negative stat on the item)?

Thanks!

Are you sure it doesn't inflict a global speed penalty on an enemy under some condition?

On Melee Hit: or On Hit: are usually listed before those sorts of stats on items.

"Effects on melee hit:"

So, it is a negative effect, and it affects the monsters once I've hit them? Seems almost OP, since there's no percentage chance, it's automatic. Once I hit it, it slows down. Unless I'm misreading it.

Nope, that's correct, so far as I'm aware. I think it can be saved against with phys saves... maybe. Even if it can, it's still pretty strong.