Rearing US inflation drives global stock markets lower

Thu, 13 May 2021

Unexpectedly strong US inflation sapped equity markets around the world as investors reassess whether interest rates will rise faster than they’d previously thought.The S&P/NZX 50 Index dropped 137.79 points, or 1.1%, to 12,428.12. Of the 186 stocks on the main board, 102 fell and 29 rose. Turnover was $162.4 million.US inflation was unexpectedly strong, with consumer prices rising the most in nearly 12 years in April as resurgent demand clashed with global supply constraints. Stocks across Asia followed Wall Street’s lead as th...

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