SYDNEY—Asian stockmarkets were tugged lower by fresh concern about the solvency of China’s property developers on Wednesday, while a surging oil price added to worries that a hot U.S. inflation reading could renew pressure on policymakers to lift rates. Brent and U.S. crude futures extended gains into a fourth session, hitting two-week highs around $85 a barrel. Another warning came from Chinese factory gate prices, which are gaining at their fastest clip in a quarter century. S&P 500 futures fell 0.4 percent. FTSE futures and European futures each lost 0.2 percent. At 1330 GMT, U.S. inflation figures are expected to show consumer prices galloping ahead at 5.8 percent year-on-year, the fastest pace in a generation. Even dovish Federal Reserve officials have conceded it is running hotter for longer than they thought. “These inflation numbers are unlikely to make anyone feel comfortable,” said ING economist Rob Carnell. “Inflation higher for longer …
Stocks Stalled as Oil Fuels Inflation Nerves
November 10, 2021
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Asia & PacificAustraliaBusiness & EconomyBusinesses in COVID-19ChinaChina Business & EconomyCompanieseconomic policiesEconomiesEconomyEuropeGold & CommoditiesHK BusinessHong KonginflationInternationalInvestmentLocal NewsMarket WatchMarketsMiddle EastNew YorkNY NewsOilRegional-Local NewsstocksUKUSUS NewsWorld