Bloomberg Equities extended declines on Friday, with an index of global stocks on track for the worst week since June, while a gauge of the dollar continued its ascent, reflecting bets for outsize Federal Reserve interest rate hikes. US futures dropped, suggesting the selloff that drove the S&P 500 index to its lowest close in about two months isn’t over …

  Bloomberg The pound slid to its weakest level in almost four decades as mounting evidence of a UK recession combines with an ascendant dollar. Sterling fell as much as 1% to $1.1351, the lowest since 1985. The latest hit was data showing UK retail sales fell at the sharpest pace in eight months in August, as a worsening cost-of-living …

  Bloomberg The Australian dollar tumbled to the lowest level since the early days of the Covid pandemic as risk aversion swept across markets. The Aussie declined 0.4% against the US dollar to 0.6674, the lowest level since 2020. Investors piled into the safe-haven US dollar and sold risky assets after the World Bank reported that the global economy may …