Pedestrians stand in front of an electronic quotation board displaying the numbers of global stock markets, including share prices of the Tokyo Stock Exchange (centre, top) in Tokyo on Tuesday. (AFP photo)
Equity markets tumbled again Tuesday to extend a global rout fuelled by fears of recession, with the Federal Reserve preparing to ramp up interest rates as inflation shows no sign of slowing.
Panic has swept through trading floors since data on Friday showed US consumer prices rising at their fastest pace in a generation owing to a spike in energy and food costs caused by the Ukraine war, China’s lockdowns and supply chain snarls.
The pain has been felt across all assets, with bitcoin threatening to fall below $20,000 for the…
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