LONDON, Dec 23 — US and European stocks fell on Friday despite a key gauge showing inflation to be slowing, as investors remain concerned about recession risks.
The Fed has made clear it is willing to push the US economy into recession to bring inflation back down. Meanwhile, data showed US durable goods orders dropped 2.6 per cent in November, but that was primarily due to a sharp decline in highly volatile aircraft orders. Excluding transportation, new orders held firm with a 0.2-per cent gain.
Hopes meanwhile that China's growth will surge as it rolls back its zero-Covid strategy have been dashed by a surge in cases across the country that has kept people at home, and battered travel and economic activity.
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