ASX: Australian stocks drop more than 5% after global sell-off on inflation fears

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ASX: Australian stocks drop more than 5% following global sell-off on inflation fears

Investors were spooked by inflation figures, particularly for US consumer prices. Last week the government reported that inflation had increased to an annual rate 8.6% in May, the most since December 1981, and more than the 8.3% markets had expected.

 

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