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Wall Street slips as retail sales data revives inflation fears

Reuters 

By Medha Singh(Reuters) - Wall Street slipped on Tuesday after retail sales data pointed to a steady rise in inflation, reviving fears of faster interest rate hikes, while a lack of progress in U.S.-China trade talks continued to weigh on the market.After the data, which supports economists' expectations that the Federal Reserve will raise interest rates next month, the yield on the benchmark U.S. 10-year Treasury note surged to a seven-year high of 3.0740 percent.U.S. retail sales rose moderately in April as rising gasoline prices cut into discretionary spending, but the gain in core retails ...

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First Published: Tue, May 15 2018. 23:04 IST
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