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U.S. stocks slide amid worries over inflation, growth - BNN Bloomberg

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Stocks and U.S. index futures dropped as hawkish messages from the New Zealand and Australian central banks signaled a prolonged fight against inflation and revived concerns about an economic slowdown.

Nvidia Corp. slid 1.6 per cent in U.S. premarket trading as traders weighed Japan's decision to join a US alliance to restrict chip-making exports to China. Sodexo SA, a provider of catering services, jumped 11 per cent in Paris after announcing plans to spin off its benefits and rewards business.

Meanwhile, Reserve Bank of Australia Governor Philip Lowe pushed back against bets its tightening cycle is ending, saying policymakers still expect a need for higher rates. Markets in China, Hong Kong and Taiwan were shut for a holiday. The MSCI Asia Pacific Index dropped 0.6 per cent, with Toyota Motor Corp. and Daiichi Sankyo Co. contributing the most to its losses.

 

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