NEW YORK, June 18 — World stocks yesterday closed out their steepest weekly slide since the pandemic meltdown of March 2020, as investors worried that tighter monetary policy by inflation-fighting central banks could damage economic growth.
After sharp early losses, world stocks steadied somewhat to ending yesterday’s session down by just 0.12 per cent. The weekly slide of 5.8 per cent was the steepest since the week of March 20, 2020. Southern European bond yields dropped sharply after reports of more detail from ECB President Christine Lagarde on the central bank’s plans.
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