US inflation data sends share markets into a 'tailspin'

Mon, 13 Jun 2022

New Zealand’s benchmark equity index dropped sharply as hot inflation data sent investors rushing to sell shares ahead of further interest rate hikes. The S&P/NZX 50 Index fell 211 points, or 1.9%, to 10,924.74. Turnover was light at $132 million, with Australia celebrating Queen’s Birthday Weekend today. US share markets slumped, and bond yields jumped on Friday when consumer price index data showed inflation hadn’t peaked last month as some investors had expected.Instead, prices increased another 1% in May and...

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