Wall Street joins sell-off over inflation concerns
Rising commodity prices and labour shortages in the US stoke market fears
12 May 2021 - 00:05
New York — US stocks closed lower on Tuesday as rising commodity prices and labour shortages fed fears that despite reassurances from the US Federal Reserve, near-term price spikes could translate into longer-term inflation.
Technology stocks were among the biggest losers, mirroring a sell-off in China, where talk of tighter regulation sent technology shares skidding. But US shares clawed back some of their losses over the course of the day...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.