Markets were sold all over the world amid growing signs of a weakening global economy as central banks stepped up pressure with another rate hike. The Dow Jones Industrial Average closed Friday at the lowest price of the year. The S&P 500 is down his 1.7%, nearing its 2022 lows. Energy prices also closed sharply lower as traders worried about a possible recession. Yields on U.S. Treasury bonds, which affect rates on mortgages and other types of loans, remained at multi-year highs. UK bond yields surged after the new UK government announced plans to cut drastic tax cuts.
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