October 7, 2022

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Stocks fall after Wall Street's fall on US CPI

Stocks fall after Wall Street’s fall on US CPI

A pedestrian walks past an electronic quotation board showing stock prices for the Tokyo Stock Exchange in Tokyo on June 16, 2020.

Kazuhiro Nogi | AFP | Getty Images

Stocks in the Asia-Pacific region fell sharply on Wednesday after indexes on Wall Street Fell After higher than expected US Consumer Price Index August report.

Japan Nikkei 225 Topix is ​​down 2.7%, and Topix is ​​down 2%. Japanese yen It traded at 143.75 per dollar after hovering around its weakest level since September 1998.

The Hang Seng Index In Hong Kong, it is down 2.55%, and Hang Seng Tech is down 2.96%. in Australia , S & P / ASX 200 down 2.48%.

The Cosby In South Korea it lost 1.34% and the KOSDAQ index fell 1.67%. South Korean win – win It crossed the 1,390 mark against the dollar and was last traded at 1,391.98 against the dollar, near the weakest levels since March 2009.

Mainland China Shanghai boat lost 1.02% and Shenzhen Component 1.496%.

MSCI’s broadest index of Asia Pacific shares outside Japan is down 2.28%.

The two-year US Treasury yield also reached 3.79%, Highest level since 2007. The Dow Jones Industrial Average lost 1,276.37 points, or 3.94%, to close at 3,1104.97 points. The S&P 500 fell 4.32% to 3,932.69, and the Nasdaq Composite lost 5.16% to end the session at 11633.57.

“Perhaps the most worrying thing in all of this is that the strength in core inflation is largely due to categories driven by the service sector,” Ray Atrell, head of FX strategy at National Australia Bank, said in a note, adding that the sector is wage inflation. in the first place. -Move it.

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CNBC’s Jeff Cox, Jesse Pound and CNBC’s Carmen Reink contributed to this report.