Stocks fall, euro nears dollar parity as recession fears build

Hong Kong (AFP) July 12, 2022

Equities fell Tuesday, along with oil, on fears that central bank moves to fight inflation will spark a recession, while the euro fell towards parity with the dollar as cost-of-living crises loom over the eurozone economy. Worries about a Covid flare-up in China - fuelling fears of more lockdowns - added to the downbeat mood, just as investors prepare for a week of data and earnings that c