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Live: Wall Street retreats as hot inflation shortens odds of a rate hike, ASX set to slide

Wall Street hit the brakes as higher-than-expected inflation looks to have cemented a December rate hike, while the ASX is priced to slide as well. Follow the day's events and insights from our business reporters on the ABC News live markets blog.

Wall Street retreated overnight as higher-than-expected inflation virtually cemented the likelihood of the Fed raising raising interest rates again next month.

The ASX is set to surrender a large part of yesterday's gains with futures trading pointing to a 0.5 per cent fall on opening.

Follow the day's financial news and insights from our specialist business reporters on our live blog.

Disclaimer: this blog is not intended as investment advice.

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Good morning and welcome to another day on the ABC markets and finance blog.

Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.

Wall Street retreated overnight as hotter than expected inflation shortened the odds of the Fed raising rates in December.

The ASX looks like giving up a large chunk of yesterday's gains. Futures trading is pointing to a 0.5% fall on opening (at 7:00am AEDT).

The game's afoot, so let's get blogging.

  • wall
  • street
  • inflation
  • rate
  • hike
  • asx
  • shorten
  • odd

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