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Stock Market Live Updates: Asian stocks decline following higher-than-expected US inflation data
Sensex, Nifty, Share Prices LIVE: Asian stocks experienced a decline following the release of higher-than-expected US inflation data, which led to a sell-off on Wall Street. The Japanese stock market opened lower on Wednesday, with the Nikkei 225 index down by 0.60% while the broader Topix index slipped by 1.09%. South Korea’s KOSPI also dropped by 1.67%, while Australia’s S&P/ASX 200 index fell by 1.05%. The fall in Asian stocks was triggered by the US inflation data, which dampened hopes for immediate interest rate cuts by the Federal Reserve. The main indexes on Wall Street saw significant losses on Tuesday, with the S&P 500 losing 1.37%, the Nasdaq Composite dropping 1.79%, and the Dow Jones Industrial Average falling by 1.36%. This was largely due to higher US Treasury yields, which pushed back market expectations for interest rate cuts.