Stocks face more pressure Friday after concerns about inflation again sparked a Wall Street slide while pushing up bond yields and the dollar. Equity futures point to declines in Japan, Australia and Hong Kong. A slump in Chinese shares traded in the US on uncertainty over the regulatory outlook and Covid lockdowns is an additional headwind for Asia. The next test for markets is the US inflation print Friday, which will provide clues about how aggressively the Federal Reserve will raise interest rates. The data are expected to show an annual consumer-price gain of more than 8%.
— Bloomberg Markets