Shares Slide, Dollar Dominates as Rate Hike Fears Mount

Shares Slide, Dollar Dominates as Rate Hike Fears Mount
Pedestrians wait to cross a road at a junction near a giant display of stock indexes in Shanghai, China, on Aug. 3, 2022. Aly Song/Reuters
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SYDNEY/LONDON—Shares slipped on Monday and the dollar extended its climb amid angst over global growth as most central banks keep raising rates, while a modest easing by China served only to highlight troubles in its property market.

U.S. Federal Reserve Chair Jerome Powell headlines a host of policy makers at Jackson Hole later in the week and the risks are that he will not meet investor hopes for a dovish pivot on policy.