*STOCKS CRUSHED TO END THE WEEK AS INFLATION SPIKE LIFTS BETS ON 50BPS RATE HIKE; 10-YEAR YIELDS TEST 4% -
NEW YORK -Global equity markets fell while U.S. Treasury yields rose on Friday following stronger-than-expected economic data that stoked worries the Federal Reserve will prolong its interest rate hiking cycle.
Furthermore, the personal consumption expenditures price index, the Fed's preferred inflation measure, accelerated by 0.6% last month, the biggest increase in six months, bringing the index to 5.4% for the 12 months through January.
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