NEW YORK, May 13 ― World equities fell yesterday to an 18-month-low, with markets dogged by fears high inflation would persist and force central banks to keep tightening monetary policy.
Europe's continent-wide STOXX 600 index was down 0.75 per cent. MSCI's gauge of stocks across the globe was down 0.69 per cent, as of 5.09pm ET .The Dow Jones Industrial Average fell 103.81 points, or 0.33 per cent, to 31,730.3, the S&P 500 lost 5.1 points, or 0.13 per cent, to 3,930.08 and the Nasdaq Composite added 6.73 points, or 0.06 per cent, to 11,370.96.The dollar index rose 0.711 per cent after touching 104.92, its highest since December 12, 2002. The euro was down 0.
Consumer price gains slowed to an 8.3 per cent rise in April year-on-year from the 8.5 per cent pace of March, but exceeded the 8.1 per cent economists had forecasts. Germany's 10-year yield, the benchmark for Europe, fell as much as 15 bps to 0.85 per cent, its lowest in nearly two weeks.
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