Shares deepen losses as U.S. inflation data adds to case for Fed rate hike

Published by
Reuters UK

By Tom Wilson LONDON (Reuters) – Shares wilted on Thursday as inflation in the United States raced to almost 8%, likely cementing the case for an interest rate hike by the U.S. Federal Reserve, and the European Central Bank sped up its exit from its massive stimulus programme. Data showed consumer inflation running at a 7.9% annualised clip in February, bang on analysts’ expectations. Wall Street futures barely budged on the data and were last down between 1% and 1.4%. Stocks had already been under pressure after the European Central Bank accelerated its exit from extraordinary stimulus, in a …

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