Dow Jones plunges nearly 1,000 points as global stocks dive

NEW YORK, New York - Fears interest rate hikes in coming weeks and months will be more aggressive than previously thought drove global equity markets sharply lower on Friday.

Oil prices dived while the U.S. dollar soared.

U.S. Federal Reserve Chairman Jerome Powell sparked the frenzy which began Thursday after he commented that a 50 basis point official interest rate hike could be on the agenda when the mon