The probability of a 25-basis-point reduction by the Fed this month jumps to 89.4 per cent, according to the CME Group.

The probability of a 25-basis-point reduction by the Fed this month jumps to 89.4 per cent, according to the CME Group.

China's August consumer price index fell 0.4% year over year, missing expectations of a 0.2% drop by economists polled by Reuters.

Consumer prices on the mainland slipped 0.4 per cent in August from a year earlier, compared with estimates of a 0.2 per cent decrease.

The Trump administration has been discussing severe restrictions on medicines from China, according to the New York Times.

With US inflation data for August coming in line with expectations, a quarter-point rate cut by the Fed is almost certain.