Dollar, US stocks fall on inflation concerns – Reuters

Dollar, US stocks fall on inflation concerns – Reuters

NEW YORK April 29 (Reuters) - The U.S. dollar index fell from 20-year highs while Wall Street equities were lower on Friday with the latest economic data Amazon.com's disappointing quarterly report and outlook keeping the spotlight on surging inflation.

In U.S. treasuries the benchmark 10-year yields capped off their biggest monthly gain since December 2009 by rising near their highest levels of the year after economic data.

Equities were also under pressure after data showed that monthly inflation surged by the most since 2005 while U.S. consumer spending increased more than expected in March amid strong demand for services. Also, first quarter U.S. labor costs surged by the most in 21 years, pointing to rising wage inflation, supporting Federal Reserve's policy tightening. read more