Investors dump shares on growth fears as Swiss, UK hike rates

Published by
Reuters

By Koh Gui Qing NEW YORK (Reuters) -World stocks plummeted again on Thursday and government bonds hovered near multi-year highs after a series of rate rises from global central banks rekindled fears that aggressive policy tightening could drag economies into recession. Following a relief rally on Wednesday when investors welcomed the U.S. Federal Reserve’s aggressive move to raise rates by 75 basis points – its biggest rate hike since 1994 – by buying shares, two other spates of policy tightening in Britain and Switzerland seemed to have sobered investors into focusing on the chance that econo…

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