Asia shares spooked by U.S. inflation scare, hope for Fed calm

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By Wayne Cole SYDNEY (Reuters) – Asian shares slipped to seven-week lows on Thursday after a dismaying rise in U.S. inflation bludgeoned Wall Street and sent bond yields surging on worries the Federal Reserve might have to move early on tightening. “Higher inflation is a definite negative for equities, given the likely rates response,” said Deutsche Bank macro strategist Alan Ruskin. “The more nominal GDP gains are dominated by higher inflation, especially wage inflation, the more the possible squeeze on profit margins. It plays to a more choppy, less bullish equity bias.” MSCI’s broadest inde…

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