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U.S. Stocks End Lower Due To Inflation 31-Year Highs, European Stocks And Precious Metals Up

London, Wednesday, 10 November 2021


Inflation 31-year highs send all major indices lower Wednesday.


S&P 500: -0.32% or 15 points, to 4,670

Nasdaq: -0.76% or 121 points, to 15,765.

Dow Jones: -0.13% or 45 points, to 36,274


The Nasdaq decline came as a reaction to the U.S. Labour Department figures according to which, the Consumer Price Index (CPI) rose 6.2% in October, the highest increase since November 1990.


Meanwhile, core CPI soared to its largest 12-month increase since August 1991, at 4.6% year-on-year.


The VIC volatility index was up 2.2% to 18.17, amid increasing inflation.


10-year U.S. Treasury notes rose 2% to 1.488%


Oil prices were up:

Brent Crude: $85 per barrel, up 0.3%


West Texas Intermediate: $84.19, up 0.05%


U.S. dollar index: +0.2% to 94.14


High inflation shifted investors’ attention to precious metals sending gold and silver up, 1.7% to $1,863 per ounce and 3.1% to $25.05, respectively.


Bitcoin extends its record to $69,000


European Stocks Close Higher


STOXX Europe 600: +0.22% or 1.05 points to 483.76


FTSE 100 in London - best performer: +0.91% or 66 points, closing at a record 7,340.15


DAX 30 in Germany: +0.17% or 27 points to 16,067


CAC 40 in France: flat, adding 0.03% or approx 2 points, closing at 7,045


FTSE MIB 30 in Italy: +0.44% or 119 points to close at 27,561


IBEX 35 in Spain: +0.74% or 66 points to close at 9,141



(Written and edited by: The Decision Maker)