Stocks sputter as growth fears offset China COVID shift

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Reuters

By Danilo Masoni and Tom Westbrook MILAN/SINGAPORE (Reuters) – World stocks eased on Wednesday and bonds remained supported after a chorus of Wall Street bankers warned about a likely recession ahead, tempering optimism about China’s major shift in its tough zero-COVID policy. Top executives at Goldman Sachs, J.P. Morgan and Bank of America all sounded downbeat in remarks on Tuesday about the economic outlook, hurting risk appetite globally and triggering fresh recession signal from bond markets. “Yields have accentuated the downward trend, which is somewhat of a novelty. In previous phases of…

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