NEW YORK/LONDON—A gauge of global stock markets edged lower and the dollar built on earlier gains on Wednesday after U.S. consumer inflation surged to its highest since 1990, raising concern the Federal Reserve will tighten monetary policy sooner than expected.
Real yields on U.S. Treasuries slid to record lows and gold prices reversed course to rise more than 1 percent as another jump in the consumer price index in October bolstered the metal’s appeal as a hedge against inflation.
