Stocks eye steepest slide since 2020 as central bankers roil markets

World stocks whipsawed on Friday to edge closer to their worst week since markets’ pandemic meltdown in March 2020, as leading central banks tightened policy in an effort to tame inflation, setting investors on edge about future economic growth.

After a week of punchy moves across asset classes, world stocks were down 0.7% on Friday to take weekly losses to over 6%, and leave the index on course for the steepest weekly percentage drop in more than two years. “Our worst fears around the Fed have been confirmed: they fell way behind the curve and are now playing a dangerous game of catch up. We look for GDP growth to slow to almost zero, inflation to settle at around 3% and the Fed to hike rates above 4%.”

“The more aggressive line by central banks adds to headwinds for both economic growth and equities,” said Mark Haefele, Chief Investment Officer at UBS Global Wealth Management. “The risks of a recession are rising, while achieving a soft landing for the U.S. economy appears increasingly challenging.”

How sweet it is. Hope will collapse totally and we'll start a new , just. fair, equitable... socio-economic system good for all. Including the only planet we have and all living organisms on it, incl. Covid and its kids. After all. they are living things too.

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