Global stock markets hit by rate hike fears

NEW YORK: Global stocks fell Friday as the US Federal Reserve’s upbeat economic outlook was eclipsed by fears the recovery will fan inflation and push interest rates up sooner than expected. Huge amounts of central bank and government stimulus have helped the global economy recover from last year’s virus-driven collapse. Major central banks are now grappling with a rapid rise in bond yields, triggered by fears that stimulus-fuelled inflation could herald rate hikes as economies reopen. Heading into the weekend, the Frankfurt, London and Paris stock markets reversed Thursday’s gains to finish i…

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HEDGE accordingly