Disappointing inflation data in the United States, which slowed to 8.3% from 8.5% the previous month, but with a slowdown below market expectations (8.1%), bring everything down: cryptocurrencies, the stock market and oil. . Bitcoin collapses, the best-known of cryptocurrencies, is down 10% to hit a low of $20,065.8. On the same day, the New York Stock Exchange is in freefall. About an hour after the close, Wall Street is in deep red, with the Nasdaq down 4.39% and the Dow Jones down -3.22%.
Oil prices closed lower in New York below $88 a barrel, nullifying previous gains, consolidating expectations of a third 75 basis point high from the Fed next week. WTI contracts fell 0.25% to end at $87.54 a barrel.
Even the Milan Stock Exchange closed the second weekly session down, despite a well-adjusted first phase. This is the second consecutive drop, as well as the lowest reading in 4 months. The final Ftse Mib therefore lost 1.36%, closing at 22,303 points. The lower-than-expected fall in US inflation, according to analysts, reduces expectations of a less aggressive policy by the Fed in raising interest rates, with the ECB appearing to be positioned in ‘hawk’ mode, as confirmed yesterday by Isabel Schnabel, member of the Governing Council.
Source: IL Tempo
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
