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Equities Drop On Poor China Data, Inflation Fears

Business & Finance

US and European stock markets sank Monday after a mixed Asian session, as investors tracked weak Chinese data and fears that high inflation will spell tighter global monetary policy.

China's economic growth eased to 4.9 percent in July-September, slower than forecasts, as a crackdown on its property sector and an energy crisis began to bite.

"Investors were a bit cautious with earnings season ramping up, while ongoing concerns about inflation also held the markets back a touch," said ThinkMarkets analyst Fawad Razaqzada.

"Meanwhile, more signs emerged that growth is weakening at the world's second largest economy, China," he added.

Elsewhere Monday, oil prices hit multi-year peaks on tight supplies and soaring demand.

Bitcoin rose above $62,800, with optimism that US regulators will make the cryptocurrency more attractive to traditional investors, before

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