LONDON—World stocks attempted a move higher on Friday after four days of losses caused by mounting fears of economic downturn, even though the growth concerns were fanned further by data showing a sharp slowdown in China.
Markets enjoyed some relief from selling after two Fed policymakers on Thursday hosed down bets on an aggressive 100 basis-point (bps) interest rate rise this month.
But they did not dispel fears that central banks’ drive to get on top of galloping inflation will wallop the global economy.
Recession fears were fanned further by data showing a sharp second-quarter slowdown in China, reflecting the colossal hit from widespread COVID-19 lockdowns. Annualised 0.4 percent growth was the worst since at least 1992, excluding early-2020 when the COVID-19 pandemic erupted….