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ASX set to drop, Wall Street tumbles amid ongoing inflation fears – ABC News

The Australian share market is set to follow Wall Street’s decline amid ongoing inflation fears in the US.

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The Australian share market is poised to open lower after Wall Street declined sharply off the back of hotter-than-expected US inflation data.
Key points:

  • The ASX is tipped to open lower, building on its previous losses
  • US consumer prices have soared to their highest levels since 2008
  • Wall Street investors have been spooked by CPI data, triggering a widespread sell-off

ASX SPI futures were down to 7,023 by 7:15am AEST. 
The Australian dollar had recovered slightly from earlier losses overnight and…

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