An employee of a bank walks by the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Sept. 13, 2023. Stocks fell Wednesday in Asia after a slide for technology stocks dragged Wall Street lower ahead of a key report on U.S. inflation.
The futures for the S&P 500 and Dow industrials were virtually unchanged as investors awaited the latest monthly update on prices that U.S. consumers are paying across the country. Economists expect it to show that prices were broadly 3.6% higher last month than a year earlier. High interest rates work to undercut inflation by slowing an entire economy and knocking down prices for stocks and other investments.undermined that process
In Asian trading, Hong Kong’s Hang Seng lost 0.1% to 18,009.22 and the Shanghai Composite index sank 0.5% to 3,123.07.
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