LONDON—World stock markets stumbled on Wednesday as signs that the economic outlook is weakening spurred caution, while a bigger-than-expected interest-rate hike from New Zealand lifted the kiwi dollar.
European stocks fell with the broad STOXX 600 index pulling away from Tuesday’s one-month highs. U.S. equity futures dipped and Japan’s Nikkei fell 1.6 percent in its biggest one-day percentage fall since mid-March.
MSCI’s world equity index pulled further away from Tuesday’s almost seven-week highs, while Asia trade was thinned by holidays in Hong Kong and China.
Weak U.S. economic data this week has exacerbated recession worries, taking the edge off recent stock market gains….