A look at the day ahead in European and global markets from Anshuman Daga
The sea of red splashed across global markets - after Tuesday's hotter-than-expected U.S. inflation data - shows how markets had priced in false optimism.It's clear now that inflation has still not peaked, despite easing commodity prices.
Asian shares were hammered after a tumble on Wall Street, while the dollar steadied and two-year Treasury yields raced to a new 15-year high. The highest and lowest forecasts for annual consumer price inflation polled by Reuters are 10.8% and 9.6%, with the consensus estimate coming in at 10.2%.
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