Wall Street stocks suffered steep declines on Thursday with the Nasdaq’s biggest fall since 2020 and the Bank of England has warned that the UK economy will slide into recession this year. Plus, the FT’s Latin America editor, Michael Stott, explains why the British Virgin Islands is rejecting a push for direct rule from London. Subscribe to the FT News Briefing on Apple Podcasts or SpotifyMentioned in this podcast:Nasdaq tumbles 5% in sharpest fall since 2020British Virgin Islands premier rejects direct rule from LondonBank of England warns of UK recession this year as it lifts interest rateThe FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva, and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Read a transcript of this episode on FT.com See acast.com/privacy for privacy and opt-out information.