With price rises showing no solid sign of letting up, monetary policymakers have gone on the offensive, warning that short-term hits to economies are less painful than the long-term effects of not acting.
Wall Street extended losses Friday, with the Dow finishing at its lowest level since November 2020, while European equities sank in afternoon deals and Asia finished lower. In the eurozone, recession fears deepened as data showed its economic activity fell once again in September.
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