Dollar hits 24year high against yen, euro, sterling slide
MSCI world stock index falls for fifth straight day
Europe down over 1, SP futures 0.5, Nikkei closes down 1.5
Industrial metals suffer heavy falls
U.S. yields climb, oil prices dip

LONDON, Sept 1 Reuters September got off to a stormy start on Thursday, as persistent worries about rising global interest rates and recessions hounded stocks and bonds and drove the safehaven U.S. dollar to a 24year high against the yen.

Near 1.5 falls in London .FTSE, Frankfurt .GDAXI, Paris .FCHI and Milan .FTMIB pushed MSCI39;s main world stocks index .MIWD00000PUS to its lowest since July while Europe39;s government bond markets saw more selling after their worst monthly rout in decades.

The bearishness was being fed by the possibility that the European Central Bank will raise its policy rate by a record 75 basis points next week following Wednesday39;s record high inflation reading. read more

Heavy shelling at Ukraine39;s giant Zaporizhzhia nuclear plant rattled nerves too. Russia had shut its main gas pipe to Europe for maintenance, Washington ordered Nvidia to stop selling high tech chips to China, while veteran investor Jeremy Grantham warned of an epic finale to the stock market superbubble inflated by years of cheap money.

The whole world is now fixated on the growthreducing implications of inflation, rates, and wartime issues such as the energy squeeze, Grantham said.

Add to that COVID in China, food and energy…