Dollar gains, stocks slip as Fed officials talk tough on rates

The dollar rose and equity markets slid on Thursday after hawkish remarks from a Federal Reserve official that reminded investors a less aggressive monetary policy is unlikely with U.S. employment data still showing a tight labor market, reports.

Nagging recession and higher interest rate worries also rattled European markets, while the pound tumbled as Britain hoped to put its disastrous recent fiscal experiment behind it with a more austere-looking budget.

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