Stocks, oil plunge on renewed recession fears


There is building consensus that the world's top economy is heading for a contraction next year. – AFP pic, June 22, 2022.

EQUITIES and oil prices tumbled today after a brief respite from last week’s painful rout across world markets, with recession fears continuing to build as central banks hike interest rates to combat decades-high inflation.

While Asia, Wall Street and Europe all enjoyed healthy gains yesterday, analysts warned the downbeat mood on trading floors means the selling is unlikely to end any time soon.


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