- Higher-than-expected US CPI numbers, coupled with strong comments from the Fed, saw a surge in interest rates, knocking stocks and lifting the dollar.
- Japanese markets were closed today, but most of the other equity markets in the MSCI Asia Pacific Index fell to pare this week's gains.
- Europe's Stoxx 600's 0.8% loss is shaving this week's gain to about 1.35%.
- The US dollar is trading higher against most currencies. The Australian dollar is the weakest of the majors, off about 0.5%.
- The South African rand and Mexican peso are resisting the pressure weighing on EM currencies.
For further details see:
If The Market Panicked, Will The Fed?