Global stock markets fall as economy fears grow

Asian stocks fell on Friday after major losses in the US and Europe as worries about the economy intensify following a series of rate hikes around the world.
Policymakers are raising rates to slow demand in hopes of easing some of the pressures pushing up consumer prices.

Investors fear the moves will tip the global economy into sustained slowdown.
On Friday, Japan's Nikkei was 1.5% lower, while Australia's main stock market index was down by more than 2%.

That came after Thursday saw a sell-off in the US, with the S&P 500 falling by 3.2%, while the tech-heavy Nasdaq dropped more than 4%.

Shares in Tesla fell by 8.5% after the firm unveiled price increases following rising costs. The electric carmaker's autopilot features are also under scrutiny by US road safety regulators.

Spotify also sank 7%, a day after the streaming giant said it was slowing hiring in the face of economic uncertainty, becoming the latest big company in the tech sector to announce such a move.