Global Shares Slide as Interest-Rate Risk Rises and Geopolitics Heat Up

Global Shares Slide as Interest-Rate Risk Rises and Geopolitics Heat Up
A media person stands in front of the stock quotation board during a ceremony marking the end of trading in 2022 at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, on Dec. 30, 2022. Issei Kato/Reuters
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LONDON—Global shares tumbled on Monday, after a run of upbeat economic data suggested interest rates will have to rise further and stay higher for longer, while a stronger dollar and political turbulence hit risk-linked assets.

Last week’s blockbuster U.S. jobs report sent investors scurrying to load up on dollars to the detriment of emerging market assets and lower-yielding currencies like the yen.