Warnings of recession by two major global financial institutions and bets of a large interest rate hike from the U.S. Federal Reserve next week knocked down sentiment in markets across Europe as shares slid
The World Bank said late on Thursday that the global economy might be inching toward a recession as central banks aggressively tackle sticky inflation. The International Monetary Fund said it expected a slowdown in the third quarter.The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 15, 2022. REUTERS/Staff
" highlighted that because the new tightening polices are synchronised across a number of countries," Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, wrote in a note. "The effects of these interest rates could be compounded and magnified, leading to a steeper-than-expected slowdown in global growth."
All eyes are now on the U.S. Federal Reserve, which is expected to deliver its third 75-basis-point hike of the year after raising by 225 basis points so far in 2022.
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