Stocks mostly advance as optimism creeps back in

LONDON, July 5 — European and Asian stocks mostly advanced yesterday as investors tentatively regained some optimism following the heavy losses in the financial markets last week on fears that rising interest rates could spark a recession.

Markets have suffered sharp losses in recent weeks on fears that global rate hikes — aimed at fighting soaring inflation — could send economies into a downturn. But with US inflation now at 40-year highs, Biden is scrambling to find ways to relieve price pressure and has said that lifting some tariffs is under consideration.

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