NEW YORK: Global stock markets fell on Monday as expectations of faster growth and quickening inflation battered bonds, boosted commodities and led to a further rotation out of the big tech names that have driven the equity rally during the pandemic.
Gold rose more than 1% and copper prices shot above $9,000 a tonne for the first time since 2011 on the prospect for inflation and growth, while the dollar slumped to multi-year lows against the British pound and the Australian dollar.
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