Global Markets React to Surging U.S. Inflation, Raising Rate Concerns
TL;DR Summary
Asia-Pacific markets fell after U.S. inflation for March exceeded expectations, raising concerns about prolonged higher interest rates; China's consumer inflation slowed to 0.1% in March, while producer price index fell 2.8%; Fast Retailing's attributable profit rose 27.7% for its fiscal first half, but lowered its full-year revenue guidance; People's Bank of China surprised with a stronger yuan midpoint rate setting; Apple supplier Foxconn considers rotating chief executives to nurture talent.
- Asia markets largely fall as U.S. inflation stokes higher-for-longer rate worries; China CPI slows CNBC
- US inflation up, likely delaying Fed rate cuts, report says The Associated Press
- Europe turns to ECB after U.S. inflation selloff Reuters
- Asia FX weak as dollar hits 5-mth high on hot CPI; yen intervention in focus Investing.com
- Stock market today: World stocks mostly lower after hot US inflation data foils rate cut hopes 69News WFMZ-TV
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