Asian stocks fell in early trading on Wednesday, on the heels of a day wherein U.S. stocks plummeted after investors were surprised by a report showing stubbornly high price increases in August.
Stock markets in Japan and Hong Kong were down by about 2.5 percent as of early Wednesday afternoon, and Australia’s stock exchange had fallen by nearly as much. The CSI 300 Index of enormous Chinese corporations’ share prices was down by greater than 1 percent.
Investors in the USA were caught off guard on Tuesday by a report showing that consumer prices had risen by 8.3 percent within the yr through August. That cut against economists’ expectations and threw doubt over the idea that inflation had peaked.
By the tip of Tuesday, the S&P 500 had slumped 4.3 percent, the benchmark index’s biggest drop for the reason that depths of the coronavirus pandemic in June 2020.