ASX: Australian stocks close almost 3.6% down after 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 of 8.6% in May, the most since December 1981, and more than the 8.3% markets had expected.

“The May CPI release undermined Fed expectations that inflation would moderate in [the June quarter], and we fully expect the Fed to make upward revisions to its inflation and fed funds rate projections,” ANZ said in a note on Tuesday. “GDP growth meanwhile is due a downgrade.” Adding to those concerns were the results of survey by the New York Fed that showed consumers were raising their expectations about coming inflation.

Time to buy shares for those who have some money, will go back up again, somebody always does well out of this.

It's sanctions-induced inflation aka an own goal.

self fulfilling collapse in confidence

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

ASX 200 set to plunge at market openThat’s an understatement. This economic crisis hasn’t been created by overnight. truth
Источник: SkyNewsAust - 🏆 7. / 78 Прочитайте больше »

ASX to plunge more than 4pc, US stocks enter bear marketAustralian shares are set to drop sharply at the open, resetting lower in line with falls overseas. Bitcoin sheds 15 per cent. $A below US69.30¢.
Источник: FinancialReview - 🏆 2. / 90 Прочитайте больше »