Stocks, Equity Futures Retreat Ahead of CPI Report: Markets Wrap

This content was published on May 12, 2021 – 03:18

(Bloomberg) — Most Asian stocks fell Wednesday with U.S. equity futures after a drop on Wall Street amid concern that faster inflation and the surge in commodities could test the economic recovery from the pandemic.

Stocks slid in Japan and South Korea but fluctuated in Hong Kong as technology shares rebounded. Covid-19 curbs rattled investors in Taiwan, where the stock index slumped. U.S. contracts slipped after the S&P 500 declined for a second day following a record high Friday. Dip buyers helped the tech-heavy Nasdaq 100 erase a loss of almost 2% to finish little changed.

Treasury yields were steady and the dollar rose. Investors are awaiting inflation data and government debt sales in the U.S. — events that could spark market volatility. Consumer-price inflation is set to quicken, with the year-on-year comparison amplified by the shock of Covid-19 shutdowns in…

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