The elevated inflation figures may prompt the Federal Reserve to maintain its primary interest rate at a higher level for an extended period to curb inflation, a move that unsettled investors, as evidenced by today's stock market performance.
Japan’s benchmark index Nikkei 225 fell by 0.6% to close at 32,315.99 while South Korea’s Kospi fell 0.95% to end at 2,456.15.European stocks tumble amid US interest hike woes European markets finished the week on a low amid growing concerns around interest rate hikes from the Fed as well as concerns about economic growth.
The London benchmark stock index FTSE 100 fell by 0.3% despite a boost in oil prices given the weighting of energy corporations, such as BP and Shell, in London's benchmark index is significant. The pan-European Stoxx 600 index fell by 0.6% as well, ending the week on a low after three consecutive days of bullish gains.