DAILY MARKET - STOCKS SLUMP

14:11, 12 May

DAILY MARKET - STOCKS SLUMP

Stocks Slump

Both US and European stocks fell sharply on Thursday as global markets digested the latest inflation reading out of the United States. The reading has sparked concerns that a path of aggressive rate hiking lies ahead. Global investors are digesting the April inflation reading from the U.S., which showed the consumer price index surged 8.3% in April as compared with a year ago. The inflation rate was higher than expected and still running close to a 40-year high of 8.5%.