By Reuters Staff
2 Min Read
May 13 (Reuters) - Australian shares slipped on Thursday, as local technology stocks got whacked after a stronger-than-expected U.S. inflation data raised concerns of a tighter monetary policy and set off further selling in growth stocks on Wall Street.
The S&P/ASX 200 was down 0.4% at 7,016.4 points, as of 0026 GMT.
Wall Street closed lower overnight as inflation data showed consumer prices unexpectedly rose by the most in nearly 12 years in April, fuelling concerns over whether interest rate hikes from the Federal Reserve could happen sooner than anticipated.
In other markets, Japan’s Nikkei was down 1.36% at 27765.67, and the S&P 500 E-minis futures were up 0.25%.