Shares Fragile, Dollar Soars on Growth Scare and Fed Bets

A man wearing a protective mask walks past an electronic board displaying Russian Trading System (RTS) Index, Japan's Nikkei index, and the Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, on Feb. 25, 2022. Kim Kyung-Hoon/Reuters

MILAN—World shares steadied on Tuesday after a late revival on Wall Street, although global growth fears stoked by China’s COVID-19 curbs and fears of aggressive Fed tightening sapped risk appetite, lifting the dollar to new two-year highs.

The MSCI world equity index was up 0.2 percent from six-week lows at 1117 GMT, helped by a 0.7 percent gain in Europe’s STOXX 600 index on strong earnings by companies such as bank UBS and shipping group Maersk.