The sell-off of US stocks accelerated as market worries about inflation continued. The Dow Jones lost more than 470 points in the regular session while the S&P 500 index declined by 40 points. The situation continued in the futures market, where the main indices are in the red. Similarly, Asian indices also declined to a monthly low, with the Nikkei 225 and Hang Seng declining by more than 1%. The ongoing sell-off is largely down to inflation fears as prices rise. Broadly, most commodities like lumber, copper, and iron ore have surged to record highs as demand continues to rise. Therefore, the US inflation numbers to be released today will be closely watched. If they show that prices rose faster than expected, it could push equities lower.
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