Shares Stumble on ASX as High Inflation Worries Investors

Shares Stumble on ASX as High Inflation Worries Investors
A pedestrian is reflected in a window of the Australian Securities Exchange (ASX) in Sydney, on Sep. 5, 2018. Saeed Khan/AFP via Getty Images
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Shares took the second sharpest nosedive of the year on the ASX when higher than expected inflation data intensified fears that the Reserve Bank of Australia would push up interest rates.

The market exacerbated early losses on Jan. 25 after the December quarter data showed the annual inflation rate increased to 3.5 percent.

Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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