Chinese inflation has cast a long shadow over global markets, with most trading up to 1 per cent lower.
U.S. stock futures pointed towards losses when Wall Street opens. Dow Jones industrials futures were down 48 points, or 0.4 per cent, at 12,151. S&P 500 futures declined 6.4 points, or 0.5 per cent, to 1,302.30, while Nasdaq futures fell 16.75 points, or 0.7 per cent, to 2,291.75.
Concerns that China may not be able to engineer a soft landing for its rapidly growing economy arose after Hong Kong?s Phoenix TV, citing an unnamed source, said China?s annual rate of inflation in March was likely to be 5.3-5.4 percent, a 32-month high.
Base metals prices also took a hit. Three-month copper on the London Metal Exchange was trading at $9,394.5 a tonne, compared with $9,515 at the close on Wednesday.
Benchmark crude oil for May delivery was down 4 cents at
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