Disappointing results from U.S. giants fan recession fears: Reuters

LONDON, Oct. 26 (Xinhua) -- Disappointing performance recently reported by giant U.S. companies has fanned recession fears and driven down stocks, Reuters reported on Wednesday.

U.S. companies, from tech giants Alphabet and Microsoft to GE and toymaker Mattel, have recently reported big slowdowns in growth or warned things were going to get worse, the news agency said.

"The rash of disappointing results points to a host of problems in the global economy, including soaring inflation and interest rate hikes that have battered consumer demand," it noted.

Amid the gloom, the latest data showed U.S. consumer confidence ebbed in October, "amid heightened inflation concerns and worries of a possible recession next year," the news agency added.