Shares slip, dollar firms on recession concerns

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Reuters

By Herbert Lash NEW YORK (Reuters) -U.S. shares fell sharply and the dollar surged on Monday as fears mounted that central bank efforts to tame rising consumer prices with inflation-busting interest-rate hikes will weaken the global economy and lead to a recession. Earlier in Europe the benchmark STOXX index for regional shares closed down 1% after Russia’s Gazprom said it would halt natural gas supplies to Europe for three days at the end of the month. Oil at first fell 4% as traders bet a slowdown would dent demand. But the latest disruption to energy supplies in Europe heightened concerns a…

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