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,There is building consensus that the world's top economy is heading for a contraction next year. – AFP pic, June 22, 2022.

EQUITIES and oil prices tumbled today after a brief respite from last week’s painful rout across world markets, with recession fears continuing to build as central banks hike interest rates to combat decades-high inflation.

While Asia, Wall Street and Europe all enjoyed healthy gains yesterday, *** ysts warned the downbeat mood on trading floors means the selling is unlikely to end any time soon.

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