Business
ASX set to drop, Wall Street tumbles amid ongoing inflation fears – ABC News
The Australian share market is set to follow Wall Street’s decline amid ongoing inflation fears in the US.
The Australian share market is poised to open lower after Wall Street declined sharply off the back of hotter-than-expected US inflation data.
Key points:
- The ASX is tipped to open lower, building on its previous losses
- US consumer prices have soared to their highest levels since 2008
- Wall Street investors have been spooked by CPI data, triggering a widespread sell-off
ASX SPI futures were down to 7,023 by 7:15am AEST.
The Australian dollar had recovered slightly from earlier losses overnight and…
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