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European Shares Extend Losses Amid Global Growth Worries

May 19, 2022

European stocks fell on Thursday to extend losses from the previous session, as mounting concerns over high inflation and slowing global growth sent investors flocking to the safe haven of the dollar and bonds.

U.S. retail giants Target and Walmart missed earnings expectations by wide margins and issued back-to-back profit warnings, raising concerns over downside risks to growth.

It is feared that high inflation and the Fed’s tightening monetary policy may weigh on corporate profit margins and consumer spending.

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