News Summary

• The SOX chip index fell back nearly 2% on Tuesday, although the midday selloff had been much deeper at over 8%.
• The equities mood darkened further on ‌Wednesday, with Asian indexes slumping and u.s. futures in the red before the bell.
• Headline inflation is expected to creep above 4% for the first time in three years, while core inflation is seen stalking 3%.
• The report will not only set the tone for stocks but also comes ahead of a 10-year Treasury auction later in the day.