Stocks sink on fears for global economy, capping worst H1 on record
- Share indexes down 1% to 3%, U.S. futures weak
- Cenbank chiefs reiterate inflation warning this week
- Sweden’s Riksbank latest to hike rates
- All eyes on U.S. core prices data due later
- Graphic: Global asset performance
LONDON, June 30 (Reuters) – Stocks sank on Thursday to extend what is the worst first half of a year for global share prices on record, as investors fret that the latest show of central bank determination to tame inflation will slow economies rapidly.
Central bank chiefs from the U.S. Federal Reserve, the European Central Bank and the Bank of England met in Portugal this week and voiced their renewed commitment to control inflation no matter what pain it caused.
While there was little new in the messaging, it was another warning that the era of cheap cash which had turbocharged share prices for years is coming to an end.
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Traders are now focused on data on U.S. core…