Global stocks tumble after US inflation hits 13-year high, shaking investors and adding to pressure on the Fed

Global stocks tumble after US inflation hits 13-year high, shaking investors and adding to pressure on the Fed

Stocks tumbled in Asia and Europe, while futures fell for the fourth day on Wall Street after US inflation shot up to a 13-year high, shaking investors who are worried about the impact on their portfolios and a reduction of economic support from the Federal Reserve. were down 0.36% after the index slid 2.15% on Wednesday. had fallen 0.35% following a 2.62% drop for the index the previous day, and were 0.56% lower. In Asia overnight, Japan's Nikkei 225 tumbled 2.49%, while China's CSI 300 index dropped 1.02%. Europe's continent-wide Stoxx 600 index fell 1.4% in early trading, while London's FTSE 100 index slumped 2.1%. US consumer price index inflation year on year in April from 2.6% in March, figures showed on Wednesday. It was the biggest jump since 2008, although depressed figures from a year ago exacerbated the rise. Core CPI inflation - which strips out volatile energy and food prices - jumped 0.9% in April compared to a month earlier, the biggest monthly increase since 1982. The surge in inflation rattled investors, who quickly sold off stocks and bonds. Prolonged higher inflation can eat away at the returns on assets, making them less attractive. But it also piles