A surprisingly strong German inflation figure and stubborn US price pressures raise interest rate expectations again, leading to modest falls for shares in Europe and on Wall Street. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
By Gareth Hutchens
It signals there's been no respite to cost pressures in one of Europe's biggest economies, and it's send a fresh scare through markets. Yields on benchmark German debt rose to their highest in well over a decade, while a market-based gauge of inflation expectations reached its highest since at least 2013.
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