By Geoffrey Smith
Investing.com — Fears of a return of ‘stagflation’ – high inflation and low growth – are spreading across world markets after a disappointing jobs report from the U.S. and continued rallies in world energy prices – including crude oil, which hit a new seven-year high overnight. The Bank of England is shifting rapidly into rate hike mode. But there’s relief in China at signs that the clampdown on tech fortunes may be more bark than bite, as Meituan escapes from a market abuse probe with a slap on the wrist. Here’s what you need to know in financial markets on Monday, 11th October.
1. Stagflation fears grow
The dollar came off its Friday highs as the market digested an employment report that pointed to a high-inflation-low-growth combination in the U.S. for the near term.
In a note to clients on Sunday, Goldman Sachs (NYSE:GS) shaved another 0.1% from its growth forecast for this year to 5.6%, and also cut its forecast for 2022 to 4%, from…