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Asian shares down as U.S. inflation revives taper jitters

Published by
Reuters

By Andrew Galbraith SHANGHAI (Reuters) – Asian shares fell on Wednesday after data showing the biggest jump in U.S. inflation in 13 years fuelled investor expectations that the Federal Reserve could exit pandemic-era stimulus earlier than previously thought. The U.S. consumer price index jumped 0.9% in June, the Labor Department said on Tuesday. That was above market expectations and the largest gain since June 2008. Global shares have rallied in recent weeks, sending MSCI’s broadest gauge of global stocks to a record high on Tuesday, as investors bet on a global economic recovery that is just…

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