The Australian share market is trending lower today as worries about rate hikes and inflation continue globally.
At 7am AEST, ASX 200 futures were down 0.5 per cent.
This is after the benchmark closed yesterday.
Part of the global malaise includes concerns that the US economy will be hit by another rate hike this week when the Federal Reserve meets.
Wall Street’s three main indexes closed down, and the Nasdaq fell nearly 2%.
The Dow Jones lost 0.7%, while the S&P500 took a 1.2% hit.
In Australia, inflation data will be released today, which could lead to another rate hike.
As all these factors affect economies worldwide, the International Monetary Fund has once again lowered its global forecast.
It revised its forecast for growth to 3.2% this year and 2.9% next year, down from 0.4% and 0.7% from April.
He described the world picture as “gloomier and more uncertain”.
More to come.