Yellen's warning over global economy sparks another stock rout
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WORLD stocks slumped on Thursday, gripped by another fierce selloff after a warning by Federal Reserve boss Janet Yellen over the global economy, while oil fell close to 12-year lows.
The Dow continued its overnight fall in early trade on Thursday as Ms Yellen played down the chances of another US interest rate hike any time soon. The news sparked a renewed selloff in Asia on Thursday, with Hong Kong stocks tumbling as investors played catch-up after a three-day break for the Chinese New Year.
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