According to Cointelegraph, Asian and European stock markets fell sharply on Friday, led by China. China's consumer price index (CPI) did not grow in September. Market experts said that China's weak economic indicators may cause global economic concerns.
European stocks also fell on Friday due to concerns about U.S. inflation data, which hints at a possible rate hike. Higher inflation data could prompt the Federal Reserve to keep its key interest rate higher to curb inflation, which makes investors uneasy, and today's stock market performance is evidence of this.
Asian stocks interrupted their upward momentum on Friday, with indices in China, Japan and Hong Kong falling after China released CPI data that came in below expectations, pointing to a slowing outlook for the world's second-largest economy. China's producer price index fell 2.5%. China's benchmark CSI 300 index fell 1.05% to close at 3,663.41 points.
