World shares have tumbled, with Japan’s Nikkei 225 index slumping 5.8% as investors panicked over signs of weakness in the U.S. economy. The selloffs followed the release of weak data that raised worries the Federal Reserve may have missed its window to lower interest rates before undercutting economic growth. In aftermarket trading, Intel’s shares sank nearly 19%, adding to the gloom. U.S. futures sank. Shares in Japan have been pummeled after the Bank of Japan raised its benchmark interest rate on Wednesday. That pushed the value of the Japanese yen higher against the U.S. dollar, potentially hurting overseas earnings of major manufacturers and deflating a boom in tourism.
