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Renewed fears that Federal Reserve interest rate hikes may trigger a global recession looked set to weigh on Asian stocks Friday, with equity futures for Japan pointing to a hefty drop after the S&P 500 saw its fourth straight decline. The slump in stocks came as a key segment of the Treasury yield curve reached new extremes of inversion, touching a level not seen since the 1980s. The Bank of England Governor Andrew Bailey said turmoil hitting the UK this year is worse in economic terms than anything that struck in the 1970s.
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