“Asian equities traded sideways following a lackluster session on
The Shanghai Composite Index lost 0.4% to 3,441.42 and the
The Kospi in
The S&P 500 fell to 4,152.19. The Dow Jones Industrial Average sank 1.4% in its worst day since February. The Nasdaq composite lost 0.1% to 13,389.43.
Commodity prices have been rising, particularly for industrial metals such as copper and platinum, as well as for energy commodities like gasoline and crude oil.
Big technology companies were among the biggest decliners for a second day. Tech stocks get most of their valuation from future profits that might be less valuable if they are eroded by inflation.
Investors have worried about inflation since bond yields spiked earlier this year, though yields have mostly stabilized since then. The yield on the 10-year
In energy markets, benchmark
The dollar gained to