Stocks retreat after hot US inflation data shakes Fed rate cut hopes
Donald Trump
NEW YORK/LONDON :Global stocks retreated from record highs on Thursday while U.S. Treasury yields rose after market expectations for an interest rate cut by the Federal Reserve were shaken by stronger-than-expected inflation data. U.S. producer prices rose 0.9 per cent in July, the Labor Department reported, surpassing consensus forecasts for a 0.2 per cent gain. Investors have been watching for signs of inflation pressures from U.S. President Donald Trump's trade tariffs. Wall Street stocks
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