Global stocks slide as Fed aggravates recession fears

On Wednesday, the Fed announced an increase in its benchmark interest rate by a quarter point to a target range between 2.25 to 2.5 percent, in a widely anticipated move. World equity markets slumped on Thursday after the U.S. Federal Reserve raised rates even as signs grow that global economic growth is slowing. Jitters over the Fed's move to largely keep guidance for additional hikes over the next two years spread from Asia to Europe. Major indexes fell to their lowest in two years and investors headed for the relative safety of government debt.

 (Source: CNBC)