Asian markets drop as inflation spike fans rate fears

HONG KONG (AFP): Asian markets sank Friday (March 11) as traders resumed their Ukraine-fuelled selling after the previous day's bounce, with data showing US inflation at a 40-year high adding pressure on the Federal Reserve to ramp up interest rates.

Bets on a more aggressive approach by the Federal Reserve to rein in runaway prices added to nervousness on trading floors, while the failure of high-level talks between Moscow and Kyiv to de-escalate the war also helped torpedo a brief rebound in equities.