Anthropic seeks $2trn valuation in blockbuster IPO
Hot US inflation backs December rate rise bets
Nvidia overtaken by Microsoft as it heads for $686 billion wipeout
Australian shares are set to fall this morning, after Wall Street was dragged lower by a stronger than expected inflation print.
S & P/ASX 200 futures were down 70 points, or 0.8 per cent, to 9093 near 4am (AEDT).
The US consumer price index rose 0.4 per cent in October, boosting the odds of the Federal Reserve raising interest rates at its December meeting. Core CPI, which excludes oil and energy prices, also beat expectations in the latest sign of persistent inflation.
Treasury yields jumped on the news, while the three major Wall Street indices declined.
Nvidia sank again as the news of chief executive Jensen Huang’s relationship with an alleged Chinese spy continued to reverberate. Its shares were down 6.6 per cent in midday trading, and the chipmaker was overtaken by Microsoft as the world’s second-largest company.
