LONDON/SINGAPORE—The dollar was on track for its biggest annual gain since 2015 on Friday, in the last trading day of a year dominated by Federal Reserve rate hikes and fears of a sharp slowdown in global growth.
European stock indexes were in the red in early trading on Friday. Asian equities had risen earlier in the session after market sentiment on Wall Street got a boost on Thursday from data showing rising U.S. jobless claims, which suggested the Fed’s interest rate hikes were lowering demand for labor.
Traders were also focused on the outlook for China. Optimism about the country’s reopening after three years of strict COVID-19 curbs has been tempered by surging infections which threaten more economic disruptions….