Indexes in Japan, Australia and South Korea retreated after the S&P 500 dropped 3.5% Thursday, as market euphoria turned to angst after the White House clarified US tariffs on China rose to 145%.
US inflation tops 4% for first time in three years, keeping Fed hike in play
US inflation climbed to 4.1% in May, driven by rising energy prices, keeping the Federal Reserve’s interest rate hike plans on the table for September.