LONDON, Sept 16 — Stock markets fell further today as weak UK retail sales data and a dire warning from global shipping giant FedEx fuelled fears of recession.
Wall Street opened lower after FedEx reported on Thursday that its shipped fewer packages than expected over the summer due to weakness in the global economy. "There are pressing concerns that the aggressive rate hikes by central banks thus far, and the ones that are yet to come, will drive the global economy into a recession that is not 'soft'," O'Hare said.
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