Asian stocks fall after US inflation feeds rate hike fears
Asian stock markets have slipped after U.S. inflation edged down less than expected, fueling concern the Federal Reserve might think more interest rate hikes are needed
By JOE McDONALD
Published - Feb 15, 2023, 12:18 AM ET
Last Updated - Jun 22, 2023, 09:37 PM EDT
BEIJING (AP) — Asian stock markets fell Wednesday after U.S. inflation edged down less than expected, fueling concern the Federal Reserve might think more interest rate hikes are needed.
Market benchmarks in Tokyo, Shanghai, Hong Kong and Sydney declined. Oil prices retreated.
Wall Street ended mixed Tuesday after inflation slowed to 6.4% in January from the previous month’s 6.5%. That was down from June’s three-decade high of 9.1% but hotter than the consensus expectation of 6.2%.
Core inflation, which strips out more volatile food and energy prices to give a clearer view of the trend, rose to 0.4% over a month earlier from December’s 0.3%.
