Global stock markets faced significant declines following the Fed's hawkish pivot, leading to a selloff not seen since August. Major European and US benchmarks recorded weekly losses, with all sectors in negative territory. The bond market turmoil affected equity markets, and economic indicators showed a downturn in manufacturing while services PMIs indicated growth. The Bank of England maintained interest rates, contrasting with the Fed's stance, while the Bank of Japan and People's Bank of China also held rates steady. New Zealand entered a technical recession. Teljes cikk (Euronews.com)