TOKYO: Equity markets tumbled in Asian trade on Tuesday following steep losses on Wall Street as investors grow increasingly worried about a surge in inflation that could force central banks to wind back their ultra-loose monetary policies earlier than forecast. Signs that this is having an effect were seen in data from China that showed prices paid at the country’s factory gates rose last month at their fastest pace in four years. And there is a feeling that the issue will dog markets for some time, even as investors are confident the global economy is well on the recovery path. “We’re going to see volatility definitely over the next couple of months” given uncertainty over the path of growth, Kristen Bitterly of Citi Private Bank told Bloomberg TV. Nervousness ahead of the US data sent traders rushing for the doors on Monday.

Source: Manila Times May 11, 2021 16:18 UTC