Asia-Pacific markets fall as Wall Street dives on rate hike fears [MSNBC.com]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: MSNBC.com
SINGAPORE — Major Asia-Pacific stock markets declined in early trade on Thursday, as Wall Street fell sharply with inflation datatriggering fears of a rate hikeIn Japan, theNikkei 225Softbank GroupAustralia'sS&P/ASX 200Over in South Korea, theKospiU.S. stocks slumped overnightThe Dow fell 681 points, or 1.99% lower, to notch its single-worst session since January. The blue-chip index clinched its worst day since February on Tuesday. The S&P 500 lost 2.1%, its biggest one-day drop since February, while the tech-heavy Nasdaq Composite slid 2.6%.The Labor Department reported that the prices American consumers pay for goods and services accelerated at their fastest pace since 2008 last month with the Consumer Price Index spiking 4.2% from a year ago."Market reaction to the CPI numbers was swift ... The fear for the equity market is the Fed lifting rates aggressively if there is some notion of the Fed being behind the curve as some like Summers have argued," Tapas Strickland of National Au
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