Inflation, growth woes drive European shares down for third week

Published by
Reuters UK

By Sruthi Shankar and Bansari Mayur Kamdar (Reuters) -European stocks edged higher on Friday, but posted their third straight week of losses as a slew of interest rate hikes from major central banks fuelled worries about a sharp economic slowdown. The pan-European STOXX 600 index rose 0.1% in volatile trade, but ended the week 4.6% lower. World stock markets were heading for their biggest weekly decline since a pandemic-induced meltdown in March 2020, hit by growing worries about a recession after rate increases in the United States and Britain were followed by a surprise move in Switzerland t…

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