Market rally hits a wall on China growth and US inflation fears
Alex GluyasMarkets reporter
Updated
Worries about economic growth in China and hotter-than-expected business activity in the United States has spooked investors on Wall Street and in Australia, ending a record-breaking rally in equities and commodities markets.
Markets have fully priced in a 0.25 of a percentage point rate cut in the US in December, compared with expectations of a November cut just a day earlier, after business activity this month – in both services and manufacturing – accelerated, adding to worries about inflation.
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