GLOBAL MARKETS-Asian shares extend global selloff amid bets on more aggressive Fed
Asian shares tumbled, the dollar held firm and two-year Treasury yields hit a new 15-year high on Wednesday, as a U.S. inflation report dashed hopes for a peak in inflation, fuelling bets rates may have to be raised higher 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. Wall Street saw its steepest fall in two years, the safe-haven dollar posted its biggest jump since early 2020, and two-year Treasury yields, which rise with traders' expectations of higher Fed fund rates, jumped to the highest level in 15 years.
Published:9/13/2022 10:44:20 PM