Global markets in the red as recession fears mount

London — Global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession.

The US figures, which came after a raft of dismal consumer confidence data across Europe, triggered steep falls on Wall Street, with the S&P 500 and the Nasdaq indices down 2% and 3% respectively.That weaker momentum carried into Wednesday, sending an Asian ex-Japan index 1.4% lower, while a pan- European equity index eased 0.3%, snapping a three-day rally.

Paul O’Connor, head of Janus Henderson’s multi-asset team in London, predicted “stormy” markets as long as the growth- inflation question marks persisted.

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