Asian stocks declined on Monday as hot inflation data from the United States stoked concerns the Federal Reserve may prolong its rate tightening cycle.
An unexpected acceleration in January of the personal consumption expenditures price index, the Fed's favored inflation gauge, boosted Treasury yields and sent investors fleeing riskier assets. Oil prices fell on recession fears and a firmer dollar, while gold neared a two-month low.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com