US Stocks Slide as September Consumer Inflation Exceeds Estimates
US financial markets witnessed losses as annual consumer inflation figures for September surpassed estimates, prompting concerns about prolonged monetary tightening and higher interest rates by the Federal Reserve.
Table of Contents (Show / Hide)
On Thursday, US stocks concluded the trading day with losses following the release of annual consumer inflation figures for September, which exceeded expectations. The Dow Jones Industrial Average experienced a decline of 173 points, or 0.51%, closing at 33,631. Similarly, the S&P 500 registered a loss of 27 points, or 0.62%, finishing at 4,349. Meanwhile, the Nasdaq dipped by 85 points, or 0.63%, ending the day at 13,574.
According to figures from the Labor Department, annual consumer inflation in the US stood at 3.7% in September, slightly surpassing the estimated 3.6%. The Core Consumer Price Index (CPI), excluding volatile food and energy prices, recorded an annual increase of 4.1% in September.
The robust inflation figures suggest a continued path of monetary tightening by the US Federal Reserve, indicating the likelihood of interest rates remaining higher and for an extended duration compared to previous expectations.
The VIX volatility index, often referred to as the fear index, saw a 3.7% rise to 16.69, reflecting heightened market concerns. The 10-year US Treasury yield increased by 2.2%, reaching 4.698%.
The dollar index demonstrated a 0.71% uptick to 106.57, while the euro remained stable at $1.0530 against the greenback.
In the commodities market, precious metals experienced negative trends, with gold declining by 0.3% to $1,869 per ounce and silver seeing a 1% drop to $21.82.
Oil prices remained relatively unchanged for the day, with the global benchmark Brent crude at $86.26 per barrel and the US benchmark West Texas Intermediate crude at $83.50.
URL :
News ID : 2529
Russia warns EU of soaring energy prices
Consumer inflation in Canada drops to 3.4% in May
European stock markets close with gains consecutively for third day
13 Businesses to Start for Under $1,000 in 2023 (part1)
China's Economic Resilience Shines: Surges in Retail Sales and Industrial Output Defy Expectations
Latest NASA Data Show Something Weird is Happening Inside Mars!
S&P 500 and Nasdaq Post Worst Week Since March
What triggered Silicon Valley Bank’s collapse?
United States: Retail inflation eases to 6% in February
1 Dead and 73 Injured in Tragic Blast at Chemical Plant in Louisiana
