The impact of high prices in India was uneven across states, with Rajasthan ending up with the highest inflation rate at 8.6% and Delhi having the lowest rate at 3.1%. Three other states - Haryana, Telangana, and Odisha - also experienced high inflation of over 8%.
Last week s employment data played into that narrative, showing the job market remained robust, though not strong enough to spark worries that the Fed would need to hike interest rates more to fight inflation, moves that rocked markets last year.
Apple and other tech shares were under pressure early Thursday, as Wall Street stocks opened mostly lower amid worries over further interest rate hikes. Shares of Apple fell more than three percent following a big drop Wednesday on a Wall Street Journal report that the Chinese government was barring the use of iPhones in government offices.