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Stocks slide as corporate results fuel recession fears

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A gauge of global equity markets slid from five-month highs and Treasury yields rose on Wednesday as corporate results fueled recession fears, overshadowing recent optimism that the Federal Reserve could soon back off aggressive monetary tightening.

The fastest tightening of monetary policy since the 1980s has led investors to weigh inflation concerns against recessionary fears, leading markets to higher, then lower.it would likely halt further hikes after lifting its key interest rate to 4.5% on Wednesday.

Longer-dated Treasury yields rebounded ahead of the Fed policy-setting meeting next week. Futures are pricing in a 94.7% probability of a 25 bps hike. The Canadian dollar fell 0.36% versus the greenback at 1.34 per dollar after the central bank's outlook.in January did little to push the single currency higher for now.

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Thank you big business for worrying that you are not making ENOUGH money! There goes my 401K . . .AGAIN!!

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