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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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Global stocks and government bonds drop on inflation fears\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
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S&P 500 sinks into bear-market territory as recession fears pound US stocksBear market – a plummet of 20% or more – comes as investors fret about high inflation and possibility of further rate increases How low will the US stock markets go? How about the global markets? Should we blame Putin’s war? Inflation? Excessive Covid lockdowns? The US Fed? Congress? Excessive spending? Biden? How did so many smart folks get inflation so wrong?
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