SINGAPORE — Shares in Asia-Pacific slipped in Tuesday morning trade, as investors continue monitoring developments surrounding the Covid situation in mainland China.

U.S. Inflation data are also due to come out Tuesday afternoon stateside. These could offer more information on the outlook. Federal Reserve policy.

The Nikkei 225Japan’s shares of robot manufacturer fell by 0.84% FanucDropped more than 3% Topix Index fell 0.51%. South Korea KospiYou will save 0.36%

Australian stocks declined as well, due to the S&P/ASX 200Trading fractionally lower

Overnight stateside, the Dow Jones Industrial Average shed 413.04 points to 34,308.08 while the S&P 500 slipped 1.69% to 4,412.53. Tech-rich Nasdaq Composite fell 2.18%, to 13,411.96.

With the White House warning it, Tuesday’s ET time will see the release of U.S. consumer prices index March. expects the report to show inflation that is “extraordinarily elevated.”Dow Jones polled economists and they expect the data will show an 8.4% increase annually in prices. the highest since December 1981.

Carol Kong, Senior Associate for Currency Strategy at Commonwealth Bank of Australia said that “very high US inflation” will continue to fuel market expectations for an aggressive FOMC tightening.

Kong indicated that he expected the FOMC would respond to high underlying inflation with an increase in the Funds rate of 50bp in May or June.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 100.037 — once again crossing the 100 level.

The Japanese yenFollowing yesterday’s decline from under 125 to the greenback, it traded at 125.53 USD. After yesterday’s weakness against the greenback of below 125, dollars traded at 125.53 USD Australian dollarThe price was $0.7415 less than yesterday’s levels of $0.744.