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Wall Street Ends Lower on Thursday, European Stocks Closed Sideways.


London, Thursday, 10 February 2022 -



US Markets summary


Investors' concerns about the Federal Reserve's increasingly aggressive policy stance drove Wall Street lower on Thursday.


Inflation in the United States touched 7.5 percent in January, the highest level since 1982, exceeding market expectations and sending bond yields higher.


Following the announcement, St. Louis Fed President James Bullard stated that he was open to a 50 basis point raise in March and that a full percentage point hike by July was his goal.


The selloff began with tech companies, but it quickly expanded to other cyclical stocks in the afternoon.


The Nasdaq fell 2.1 percent, the S&P 500 fell 1.8 percent, and the Dow Jones lost 526 points after falling more than 600 points at session lows.



European Markets summary


Market players weighed another set of corporate results against increasing inflation concerns as European stock markets closed sideways on Thursday, with Germany's DAX up 0.2 percent and the Stoxx 600 down 0.2 percent.


The US inflation reading was higher than expected, reaching its highest level in 40 years, and the European Commission raised its inflation forecast for 2022 from 2.2 percent to 3.5 percent.


Government bond yields rose to multi-year highs as a result, sending the heavyweight technology sector down 1.1 percent.


On the other side, travel and leisure stocks, as well as chemicals stocks, were among the European indexes' top gainers.


Strong profits from AstaZeneca, Societe Generale, Zurich Insurance, and Siemens countered gloomy updates from Credit Suisse, ArcelorMittal, and Unilever on the corporate front.


U.S. Stock Market Indexes as at 4:00 p.m. ET

  • S&P 500: -83.13 (-1.81%) to 4,504.05

  • Nasdaq: -304.73 (-2.10%) to 14,185.64

  • Dow Jones: -526.37 (-1.47%) to 35,241.69


European Stock Market Indexes

  • STOXX Europe 600: −1.09 (0.23%) at 472.24 as on Feb 10, 5:30 PM GMT+1

  • FTSE 100 in London: +28.98 (0.38%) at 7,672.40 as on Feb 10, 4:35 PM GMT

  • DAX 30 in Germany: +8.43 (0.054%) at 15,490.44 as on Feb 10, 5:55 PM GMT+1

  • CAC 40 in France: −29.33 (0.41%) at 7,101.55 as on Feb 10, 6:05 PM GMT+1

  • FTSE MIB 30 in Italy: +61.21 (0.23%) at 27,190.20 as on Feb 10, 5:35 PM GMT+1

  • IBEX 35 in Spain: +39.80 (0.45%) at 8,886.20 as on Feb 10, 5:38 PM GMT+1


Other markets

  • Ten-year U.S. Treasury note: +10.2 bps to yield 2.0310% at 4:00 p.m. ET

  • Dollar index: +0.19 or + 0.19% 95.68 as on Feb 10, 2022 at 5:06 p.m. EST

  • VIX volatility index: +3.95 (19.79%) at 23.91 as on Feb 10, 3:15 PM CST


Oil prices

  • Brent crude: +0.09 or +0.10% at $ 91.50 per barrel as on Feb 10, 2022 10:10 p.m. GMT

  • West Texas Intermediate: +0.39 or +0.43% at $ 90.05 per barrel as on Feb 10, 2022 4:59 p.m. EST


Precious metals

  • Gold: +18.71 or +1.04% at $ 1,826.71 an ounce as on Feb 10, 17:23 NY Time

  • Silver: +0.68 or +3.01% at $23.20 an ounce as on Feb 10, 17:24 NY Time


Cryptocurrencies

  • Bitcoin: −451.20 (1.02%) at 43,967.10 as on Feb 10, 10:25 PM UTC

  • Ethereum: −125.00 (3.85%) at 3,121.27 as on Feb 10, 10:25 PM UTC


(Written and edited by: The Decision Maker)