LONDON—Stock markets were deep in the red and some key government bond yields climbed to their highest in years on Thursday after the Federal Reserve signaled the possibility of faster-than-expected U.S. rate hikes and stimulus withdrawal.
Both Asia and Europe’s bourses fell heavily after Wall Street’s tech-heavy Nasdaq plunged more than 3 percent on Wednesday and 2- and 5-year Treasury yields, important drivers of global borrowing costs, surged to post-COVID pandemic highs.
