A person wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Friday, Sept. 16, 2022, in Tokyo. Asian stock markets followed Wall Street lower on Friday after higher-than-expected U.S. inflation dashed hopes the Federal Reserve might ease off more interest rate hikes. – Global stocks and Wall Street futures fell Friday after higher-than-expected U.S.
In early trading, the FTSE 100 in London lost 0.3% to 7,262.67 and the DAX in Frankfurt shed 1.7% to 12,731.46. The CAC 40 in Paris sank 1.4% to 6,070.61. The market benchmark is down 4.1% for the week following the biggest pullback in two years on Tuesday after the government reported U.S. consumer prices rose 8.3% from a year earlier and 0.1% compared with July.
Fed chair Jerome Powell said in August that rates would stay elevated for some time until the U.S. central bank is sure inflation is under control.In Asia, the Shanghai Composite index lost 2.3% to 3,126.39 after data showed Chinese consumer and factory activity improved in August but were still weak. Housing sales fell 30% from a year earlier under pressure from a government crackdown on debt.
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