Inflation Concerns Weigh on Markets After Surprise Jump in US Rental Costs

Global shares slipped after stronger-than-expected US inflation figures raised concerns about interest rates staying high.

US consumer price data showed a surprise increase in rental costs in September, fueling above-target inflation fears.

Treasury yields rose and futures markets reflected 40% chance of a Fed rate hike in December after the inflation report.

Inflation reports from Europe due Friday may keep markets on edge about central bank policy.

Recent stock gains and drop in yields had followed Fed comments that rates may have peaked, now reversed.