Fed risk drubs stocks; dollar, bond yields soar

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By Koh Gui Qing NEW YORK (Reuters) – World stocks fell for a second day in a row on Tuesday while government bond yields and the U.S. dollar clung to multi-year highs, as surging inflation led investors to brace for what could be the largest U.S. interest rate hike in 28 years this week. Surprisingly strong U.S. inflation data released Friday has fueled bets that the Federal Reserve must tighten monetary policy more aggressively to tame soaring prices. Fears that a steady series of rate rises could cause a recession walloped global equities on Monday. Investors are betting with near certainty …

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