ASX set to fall, Wall Street slumps as inflation gets worse
Worries about worsening inflation are weighing on Wall Street and pulling the US stock market further from its record.
The Australian share market is expected to open on a lower note following declines on Wall Street. The Nasdaq experienced a significant drop of over 2%, amid the release of US Federal Reserve's September inflation data, which exceeded expectations. For the latest financial news and insights from our business reporters, please refer to our live blog.
Please note that this blog is not meant to provide investment advice. As we approach the end of Alan Kohler's over three-decade-long tenure, Ian Verrender, the Chief Business Correspondent, reflected on his colourful career. Business reporter Adelaide Miller is here to kick off the morning. The ASX 200 is anticipated to commence the trading day on a bearish note, with futures pointing down -0.3% to 8,716 points, as Wall Street concludes its trading session on a loss-making note.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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