European Stocks Slip, Bitcoin Tumbles

European stock markets fell broadly on Tuesday as traders said they offset optimism about the economy when inflation concerns resumed.

After the stock market rose in most of Asia, some European indices began to fall, with Frankfurt’s DAX 30 index leading the afternoon exchange with a loss of about 1%.

According to official data, inflation in the euro area was confirmed at 0.9% in January, compared to minus 0.3% in December, and there are concerns that price increases are gaining momentum.

London’s benchmark FTSE 100 Index fell 0.1% the day after UK Prime Minister Boris Johnson set a roadmap to begin easing the UK’s coronavirus blockade in March.

But as a sign of further distress in the future, the UK unemployment rate is now at a high of nearly five years at 5.1%, official data show Tuesday, and the government has hired millions of workers. After abolishing the ongoing temporary dismissal support system, there is a possibility that the number will increase further.

Elsewhere, the pound traded against the dollar at a high of nearly three years.

Bitcoin fell 14% to $ 47,255 after U.S. Treasury Secretary Janet Yellen criticized cryptocurrencies as an inefficient means of payment and emphasized the enormous amount of energy required for each transaction. I did.

Crude oil prices also fell in response to the new rise the day before.

While there are growing expectations that vaccine deployments will help bring the global economy back on track, concerns about inflation and subsequent rate hikes weigh heavily on the stock market.

In addition, “Investors, along with energy and other inflation beneficiaries, all in Covid’s recovery as an expensive technology name (sold) to provide funding for cheaper travel-related markers. We are quickly rediscovering that stocks are not created equally, “said Axis strategist Stephen Innes.

“Airline stocks have skyrocketed due to promises of summer bailouts,” said Neil Wilson, an analyst at “Overseas travel remains problematic, limiting, quarantining and testing. It will be a target. “

Jerome Powell’s Parliamentary testimony is closely tracked on the idea of ​​the Federal Reserve’s view of rising Treasury yields

London-FTSE 100: down 0.1% at 6,603.36 points

Frankfurt-DAX30: down 1.0% at 13,815.91

Paris-CAC 40: 5,770.37 flat

EURO STOXX 50: down 0.6% at 3,678.32

New York-Dow: down 0.4% at 31,409.03

Hang Seng Index: rise 1.0% at 30,632.64 (closing price)

Shanghai-Comprehensive: 3,636.36, down 0.2% (closing price)

Tokyo-Nikkei 225: Closed due to holidays

Euro / dollar pair fell from $ 1.2161 to $ 1.2142 at 2145 GMT

Pound / $: Rise from $ 1.4064 to $ 1.4066

Euro / Pound: Fall from 86.44 pence to 86.32 pence

Dollar / Yen: Up 105.38 Yen from 105.07 Yen

Brent North Sea Crude: $ 64.83 / barrel down 0.6%

West Texas Intermediate: $ 61.04 / barrel down 1.1%

European Stocks Slip, Bitcoin Tumbles Source link European Stocks Slip, Bitcoin Tumbles

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