Asian markets drop on rate fears as US inflation runs hot

Asian markets sank Monday following a Wall Street selloff, as forecast-beating US inflation data reinforced expectations the Federal Reserve would continue to ramp up interest rates for some time. | AFP

“We have six voting members on the scheduled to appear this week — ample opportunity for officials to air their views on the latest data and, more importantly, the implications for their policy outlooks,” said SPI Asset Management’s Stephen Innes.

“Hence it could be difficult for the market to find much comfort this week unless the sentiment data surprises to the downside.” All three main indexes on Wall Street ended deep in the red Friday, and Asia followed suit on Monday.

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