Shares slipped in Asia on Friday after benchmarks on Wall Street had their biggest drop in four weeks as investors registered disappointment over...
BANGKOK — Shares slipped in Asia on Friday after benchmarks on Wall Street had their biggest drop in four weeks as investors registered disappointment over an inflation reading that came in hotter than expected.
Tokyo’s Nikkei 225 NIK fell 0.7% while the Hang Seng HSI in Hong Kong lost 0.6%. The Kospi 180721 in South Korea sank 0.7% On Thursday, the Dow Jones Industrial Average DJIA lost 1.3% to 33,696.85, while the Nasdaq composite COMP dropped 1.8% to 11,855.83. Such fears have been most clear in the bond market, where yields have leaped this month as traders raise their forecasts for how high the Fed will take interest rates.
Thursday’s inflation report showed that prices at the wholesale level were 6% higher last month than a year earlier, slower than December’s rate but worse than expected. Perhaps more concerning was that inflation accelerated in January on a month-to-month basis even after stripping out prices for food, energy and other layers.
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