Inflation surprise fails to boost PSEihome/Business/Top Business/Inflation surprise fails to boost PSEiThe stock market slumped by nearly 1 percent on Wednesday as a rout on Wall Street — triggered by renewed concerns over the US-China trade war and Brexit — overshadowed news that domestic inflation had finally started easing in November. After news of a US-China trade truce lifted global markets at the start of the week, investors have again begun to worry given the lack of details. Narrowing US bond yields and a series of Brexit-related parliamentary defeats for British Prime Minister Theresa May also added to the concerns. Sydney slipped 0.8 percent after data showed the Australian economy grew at a slower pace than expected in July-September. In early European trade London fell one percent, while Paris and Frankfurt were each more than one percent lower.

Source: Manila Times December 05, 2018 16:31 UTC