The dollar held gains on Thursday, supported by higher Treasury yields after a bigger-than-expected rise in U.S. consumer prices fanned fears about an increase in inflationary pressure.
Oil was down Thursday morning in Asia over concerns about the ever-surging numbers of COVID-19 cases in India and after the U.S. released a draw of crude inventory.
Gold was down on Thursday morning in Asia over higher-than-expected U.S. consumer prices for April, increasing concerns about higher inflation.
The S&P 500 closed lower Wednesday as the tech selloff continued on concerns red-hot inflation is here to stay after jumping the most since 2008, driven by rising auto prices and airfares.
Asian shares faced a third day of losses on Thursday after a shocking rise in U.S. inflation bludgeoned Wall Street and sent bond yields surging on worries the Federal Reserve might have to move early on tightening.
Gold was down on Wednesday morning in Asia against continued gains in both the benchmark U.S. 10-year Treasury yield and dollar. Investors also await U.S. inflation data for April later in the day.