Commodity markets flash warning signal for stocks

News Snapshot:

Indeed, the three major US stock benchmarks fell around 1 per cent overnight while bitcoin slumped as much as 7.5 per cent. The yield on benchmark 10-year Treasuries hit a four-month high, while Australia’s S & P/ASX 200 sank 1.3 per cent on Wednesday. The broad advance in commodity prices also adds to the growing risk that global inflation will be stickier than expected which could force central banks to keep interest rates higher for longer. Better-than-estimated data on US job openings and factory goods orders overnight added to doubt about the pace of rate cuts in the world’s largest...