US inflation data triggers sharp fall on the Australian share market
The Australian share market has shed billions of dollars, in what has been the worst opening hour of trade in three months.
It follows heavy losses on Wall Street after US inflation data for August came in higher than expected, at 8.5 per cent.
In the UK, inflation has fallen slightly to 9.9 per cent.
Economics editor at the Australian Financial Review, John Kehoe, said the US inflation data was higher than what had been predicted.
“It’s been pretty chaotic on the markets today.”
He said there is some talk of the US Federal Reserve imposing a recession to bring prices down.
Press PLAY below to hear him explain more, here and abroad