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Markets Roiled by Inflation Leave Investors With Nowhere to Hide

  • The retreat of commodity prices does away with inflation hedge
  • History shows no major asset class will provide a haven
A trader on the floor of the New York Stock Exchange.
A trader on the floor of the New York Stock Exchange.Photographer: Michael Nagle/Bloomberg

For investors burned by inflation, a very bad year is starting to look even worse. 

As stock prices tumbled and bonds were hit with the deepest losses in decades, the surge in consumer prices turned a few corners of the financial markets into profitable refuges earlier this year. Oil prices rallied. Other commodities did, too. Even rising home prices and rents propped up the real estate sector.