Asian shares skid after hot price data point to rate hikes

Asian shares skid after hot price data point to rate hikes

By ELAINE KURTENBACH
BANGKOK (AP) — Shares were mostly lower Friday in Asia after a sell-off on Wall Street spurred by news that U.S. inflation jumped 7.5% in January, which raised expectations the Federal Reserve will need to move forcefully to cool the economy by raising interest rates.
The hottest inflation reading since 1982 sent the S&P 500 down 1.8%. Treasury yields jumped as traders bet…

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