Share fell Friday in Asia after Wall Street retreated on news that U.S. inflation jumped 7.5% in January, raising expectations the Federal Reserve will need to move forcefully to cool the economy by raising interest rates.
The S&P 500 sank 1.8% on the report inflation was the hottest since 1982. Bond yields jumped as traders bet the Fed may have to apply the brakes to the economy with a bigger-than-usual hike in interest rates next month. The yield on the 10-year Treasury topped 2% for the first time since August 2019, according to Tradeweb.
