Uncertain markets change direction again
Tuesday 18th May 2021US shares fell sharply today as investors once again weighed up inflation concerns. The only new data to support rising prices was the Empire State Manufacturing Index, which showed an all-time high for prices paid and future prices. NAB\u2019s Tapas Strickland says it\u2019s the tech sector that has been hit the hardest, perhaps because of overvaluation concerns and the fear of a Fed that has to raise rates aggressively if it\u2019s behind the curve on inflation. Also on today\u2019s podcast discussion of the RBA minutes later today, China\u2019s retail numbers yesterday and the UK\u2019s employment data later on today.
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