Asian shares extend global selloff amid bets on more aggressive Fed

Published by
Reuters UK

By Stella Qiu SYDNEY (Reuters) – Asian shares tumbled, the dollar held firm and the U.S. yield curve was deeply inverted on Wednesday, as a white-hot U.S. inflation report dashed hopes for a peak in inflation and fuelled bets that interest rates may have to be raised higher and for longer. U.S. Labor Department data showed on Tuesday the headline Consumer Price Index gained 0.1% on a monthly basis versus expectations for a 0.1% decline. In particular, core inflation, stripping out volatile food and energy prices, doubled to 0.6%. Wall Street saw its steepest fall in two years, the safe-haven d…

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