Asian stocks fall, euro nears dollar parity as recession fears build
Asian stocks mostly fell Tuesday, along with oil, on fears that central bank moves to fight inflation will spark a recession, while the euro fell towards parity with the dollar as energy and cost-of-living crises loom over the eurozone economy.. The Fed's sharp rate hikes in recent months have sent the dollar soaring across the board, with the euro particularly under pressure as the European Central Bank moves more slowly in tightening monetary policy and as the region faces a severe energy crisis caused by the Ukraine war.
