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Markets Snap Week-long Rally As US Inflation Dents Rate Hopes

Equities went into reverse Friday, snapping a week-long rally, as a forecast-topping US inflation report revived fears the Federal Reserve will hike interest rates again before the end of the year.

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Markets snap week-long rally as US inflation dents rate hopes

Equities went into reverse Friday, snapping a week-long rally, as a forecast-topping US inflation report revived fears the Federal Reserve will hike interest rates again before the end of the year."Much of the 'good' work done in the past week in the form of bull flattening of the US yield curve has been undone by the latest US CPI report, which shows in particular still uncomfortably high core service sector inflation," said National Australia Bank's Ray Attrill.

Stock markets slide, oil prices surge

Markets snap week-long rally