They say when the US economy gets a sniffle, Australia catches a cold – and yesterday saw our stock market reach for the tissues… That’s down to the latest US inflation numbers, which showed inflation running at 8.3% in August. That’s down from 8.5% in July, but it shows inflation will be tough to crack, and wow-wee did the stock market react… On Tuesday, the 3 major Wall Street indexes – Dow, S&P and Nasdaq – posted their steepest one-day losses since 11 June 2020 over concerns that America’s central bank will raise interest rates by more than 0.5% next week. And in trading overnight, there’s been no rebound in sight… Our stock market got a taste of the fear yesterday, with the ASX200 falling 2.6%, wiping $60 billion off the value of Aussie shares. Analysts will pay close attention to what happens in the US next week and for a while to come…