From TokenPost · · 50s
Taiwan and South Korea Stocks Drop Before U.S. CPI Report
Asian stocks plunge as investors prepare for U.S. inflation data.
In brief
Asian stocks plunge as investors prepare for U.S. inflation data. Taiwan and South Korea stock markets fell sharply ahead of Wednesday's U.S. CPI report, driven by fears of higher inflation and semiconductor weakness. Originally reported by TokenPost.
Taiwan Stock Market Drops
Taiwan's weighted index fell 1,024 points, or 2.08%, by 9:55 p.m. ET Sunday (1:55 UTC Monday).
South Korea's KOSPI Falls
South Korea's KOSPI fell as much as 6.2%, breaking below 6,000 points and triggering a temporary halt to program selling.
U.S. Inflation Data Impact
The U.S. Bureau of Labor Statistics will release September consumer-price data Wednesday at 8:30 a.m. ET (12:30 UTC), with economists expecting annual headline inflation of 3.7% and core inflation of 2.5%.
Here's the gist
Taiwan and South Korea stock markets fell sharply ahead of Wednesday's U.S. CPI report, driven by fears of higher inflation and semiconductor weakness.
