Stocks drop, dollar rises as rate fears return

By Agence France-Presse

Oct 21, 2022 1:25 am

HONG KONG: Markets tumbled on Thursday, tracking a sell-off on Wall Street, while the dollar jumped further as surging inflation, interest rate hikes and recession fears returned to the fore.

Traders in Europe were keeping tabs at Westminster a day after United Kingdom Prime Minister Liz Truss' government was plunged into a fresh crisis and facing collapse following the resignation of home secretary Suella Braverman.

United Kingdom premier Liz Truss speaks during her Prime Minister’s Questions session in the House of Commons in the capital London on Wednesday, Oct. 19, 2022. UK PARLIAMENT HANDOUT PHOTO VIA AFP

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