European stocks also traded lower on Friday due to concerns stemming from U.S. inflation data suggesting potential higher interest rates.
The elevated inflation figures may prompt the Federal Reserve to maintain its primary interest rate at a higher level for an extended period to curb inflation, a move that unsettled investors, as evidenced by today's stock market performance.
Japan’s benchmark index Nikkei 225 fell by 0.6% to close at 32,315.99 while South Korea’s Kospi fell 0.95% to end at 2,456.15.European stocks tumble amid US interest hike woes European markets finished the week on a low amid growing concerns around interest rate hikes from the Fed as well as concerns about economic growth.
The London benchmark stock index FTSE 100 fell by 0.3% despite a boost in oil prices given the weighting of energy corporations, such as BP and Shell, in London's benchmark index is significant. The pan-European Stoxx 600 index fell by 0.6% as well, ending the week on a low after three consecutive days of bullish gains.
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