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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Recession Fears Drag on Euro and Crude, Asian Markets Mixed

People wear face masks as they shop at the Nordstrom Local DTLA downtown Los Angeles on Tuesday, March 15, 2022. Inflation is at a 40-year high. (AP Photo/Damian Dovarganes)

Crude extended the week's losses Thursday, while the euro struggled to recover from 20-year lows and equities were mixed as recession fears continued to cast a pall across trading floors.

Expectations for a contraction in some of the world's leading economies, including China, where a new Covid-19 flare-up has generated angst, have increased in recent weeks owing to central bank interest rate hikes aimed at taming decades-high inflation, AFP said.

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