Stocks jump as growth shares lead; 2-year U.S. yields hit 14-year highs

Published by
Reuters UK

By Caroline Valetkevitch NEW YORK (Reuters) – Global stocks rallied on Friday, led by technology and growth shares, and interest-rate sensitive two-year U.S. Treasury yields hit more than 14-year highs as investors digested the view that more interest rate hikes are needed. The dollar fell to a more than one-week low and the euro rose back above parity to a three-week high against the U.S. currency, a day after the European Central Bank raised rates by a record 75 basis points on Thursday signaleded further hikes to fight inflation. On Wall Street, all three major indexes ended with gains of a…

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