Global stocks fell on Friday, capping their worst week since March as investors in the US and Europe fretted over the prospect of further interest rate increases and potential recession.
The FTSE All-World index, which tracks the largest companies globally, slid 1 per cent, bringing its weekly fall to 2.2 per cent — its worst performance since the US regional banking crisis began in March with the collapse of Silicon Valley Bank.
The Europe-wide Stoxx 600 and Wall Street’s benchmark S&P 500 also suffered their worst week since March. The S&P 500 dipped 0.8 per cent for the day and 1.4 per cent for a week shortened by the Juneteenth US holiday on Monday. The Stoxx 600 slipped 0.3 per cent on Friday and 2.6 per cent over the week.
Read the full story on the Financial Times here.