Global Stocks Retreat as Inflation Surprise and Oil Spike Hit Tech

The mix raised doubts about near-term rate cuts, prompting profit-taking.

Overview

U.S. benchmarks pulled back from recent records after consumer prices rose 0.6% in April and 3.8% over the year, a faster pace than expected.
Crude oil jumped more than 3% after President Donald Trump called a proposed ceasefire with Iran "incredibly weak" and rejected Tehran's counterproposal.
Technology shares led the drop as chipmakers slid, with Micron down 7.12%, AMD off 4.54%, and Qualcomm lower by 11.11%.
Traders cut bets on Federal Reserve rate cuts this year as CME FedWatch showed fewer wagers on lower borrowing costs.
Mexico’s IPC opened down 0.15% at 70,141.09 even as Megacable rose 1.23%, while miners outperformed on a precious-metals rally and some consumer names priced expected World Cup demand.