Inflation fears weigh on Asian markets and U.S. futures amid accelerated rotation out of high-growth tech stocks. Tesla shares have slumped more than 6 per cent. In Japan, Softbank and Tokyo Electron lead a steep decline in the Nikkei. China’s April manufacturing prices rise at the fastest pace in more than three years but consumer prices remain weak on the back of price rise fears related to the global semi-conductor shortage. Meanwhile, U.S. petrol prices soar to an 8-year high, as the Colonial Pipeline remains disabled following the weekend ransomware attack. The hacking group responsible - believed to be based in Russia - apologised for its actions, while American investigators continue their probe. And in pharma news, Pfizer-Biontech’s vaccine will soon become available to young teenagers in the United States following successful tests by the FDA.    

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