Markets Wrap: Markets fall as US inflation data dashes hopes of March rate cut

Irish exchange followed global markets down after hotter-than-estimated inflation data in America

The US’s CPI rose 0.3 per cent from the prior month, while climbing 3.1 per cent on an annual basis. Picture: Getty

The Iseq All Share followed global markets down on Tuesday afternoon as US inflation figures came in higher than anticipated, hitting hopes that interest rates are headed for the chopping block.

The Irish stock exchange pulled back 0.3 per cent to 9,284.70 on Tuesday as Corre Energy’s gains failed to offset drops from the majority of the index.

The market mood was dampened as consumer price growth re-accelerated in the US last month, with the ...