European and US stocks tumble, pound rebounds

European and US stocks tumble, pound rebounds

Updated 19 hours ago ·
Published on 30 Sep 2022 8:00AM ·

German inflation accelerated sharply in September, official data show, in the latest indication that Europe’s biggest economy is buckling under the pressure of soaring energy prices. – EPA pic, September 30, 2022.

EUROPEAN and US equities sank yesterday on fears that rising interest rates will spark a global recession, while the pound clawed back ground one day after emergency bond-market intervention from the Bank of England.

“Higher US Treasury yields, inflation and rising recession fears are back in the driving seat,” said market analyst Fiona Cincotta at City Index.

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