Jittery investors have overplayed the threat of a US recession, economists say, but years of bumper growth are over as the world’s largest economy heads for a slowdown.
The global sell-off in equities that began on Friday and ran into this week was triggered by concerns over the health of the US economy, including a weaker than expected jobs report.
Stock prices plummeted as investors heaped blame on the US Federal Reserve for keeping interest rates too high, at between 5.25 to 5.5 per cent, even as signs of a cooling economy grew.
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