NEW YORK—Global equities fell further on Thursday, unable to sustain a late rally on Wall Street, as investors dumped stocks on fears of sluggish growth and bought safe-haven assets such as government debt and the Swiss franc.
Supply chain woes continued to fuel inflation and growth concerns as Cisco Systems Inc. warned of persistent component shortages, knocking its shares down 13.7 percent. The plunge made it the latest big name stock this week to post its largest decline in more than a decade.
Data showed factory output in the U.S. Mid-Atlantic region decelerated far more than expected in May with the business outlook for the six months ahead the weakest in more than 13 years, a regional Federal Reserve bank survey said….