NEW YORK—Stocks tumbled on Wall Street Thursday as worries roared back to the fore that the world’s fragile economy may buckle under higher interest rates.
The S&P 500 fell 3.3 percent in a widespread rout to more than reverse its blip of a 1.5 percent rally from a day before. Analysts had warned of more big swings given deep uncertainties about whether the Federal Reserve and other central banks can tiptoe the narrow path of hiking interest rates enough to get inflation under control but not so much that they cause a recession.
