Stocks right around the world continue to tumble, as concerns grow for rising consumer prices
Investors are selling off shares in Asia, Europe and the U.S. all over fears these ongoing issues will trigger an economic downturn.
America’s S&P 500 slid 20 percent from its most recent January high, which is seen as a slowdown warning.
Meanwhile, U.S. inflation is soared to a higher level than predicted for May, with the annual rate rising to 8.6 per cent.
As crypto and oil also fell, the recent market figures dashed any hopes price pressures are easing.
However, despite recent interest rate hikes, it’s expected the U.S. Central Bank will now need to act more aggressively to curb inflation.
Investors also anticipate similar inflationary measures will be taken in other key nations, including the Bank of England.
As it stands, the current economic conditions risk triggering a global economic downturn.
