A currency trader in Seoul monitors market movements as the sell-off spreads from the US to Asia and EuropeNot for the first time this week, global stock markets were pummelled overnight and into this morning as investors continue to grapple with worries about a spike in inflation. Wall Street closed sharply lower last night as a hot US inflation read-out prompted more concern among traders that central banks, which have pumped unprecedented levels of stimulus into economies during the pandemic, will soon be forced to tighten their policies. The sell-off spread to markets in Asia and Europe, the FTSE 100 losing more that 2 per cent. Sponsored“Yesterday’s US inflation shock fuelled the growing belief that central banks will have to take action sooner rather than later when it comes to raising interest rates,” Russ Mould, investment director at AJ Bell, said.

Source: The Times May 13, 2021 10:52 UTC