Week of rate hikes has stocks on course for steepest slide since 2020

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Reuters

By Tom Westbrook SINGAPORE (Reuters) – World stocks headed for their worst week since markets’ pandemic meltdown in March 2020, as interest rate hikes in the United States and Britain and a surprise one in Switzerland set investors on edge about future economic growth. The Bank of Japan was the only outlier in a week where money prices rose around the world, sticking with its strategy of pinning 10-year yields near zero on Friday. The yen was down more than 1% to 133.88 per dollar in volatile trade. U.S. futures attempted a bounce and Chinese stocks gained, but that was set against a week of l…

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