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Global Stocks Part Ways, Bitcoin Tumbles

According to traders, the global stock market on Tuesday went in many directions, including offsetting optimism about the economy when inflation concerns resumed.

Bitcoin, meanwhile, boiled in response to critical comments by US Treasury Secretary Janet Yellin.

After most Asian markets recorded a rise, the European index was mixed and Frankfurt’s DAX 30 gave up 0.7%.

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

London’s benchmark FTSE 100 Index rose 0.2% the day after UK Prime Minister Boris Johnson released a roadmap from the UK’s blockade of the coronavirus from March.

However, the UK’s unemployment rate is currently at 5.1%, a high level of nearly five years, and could rise further after the government terminates the furlough system, which continues to employ millions of workers during the blockade. there is.

In the foreign exchange market, the pound traded against the dollar at a high of nearly three years.

Bitcoin stumbled on record-breaking executions and fell to about $ 47,600 after Yellen plundered cryptocurrencies as an inefficient payment method that consumed enormous amounts of energy per transaction.

Oil prices fluctuated up and down, but showed a slight rise in transactions in late London.

While there are growing expectations that vaccine deployments will help the global economy recover, concerns over inflation and subsequent interest rate hikes are putting pressure on the stock market.

“Investors are quickly rediscovering that Covid’s recovery will not create all stocks equally, which, along with energy and other inflation beneficiaries, is a cheaper travel-related marker. It’s an expensive technology name (for sale) to provide funding for the Axi strategist Stephen Innes.

In New York, the technology-rich Nasdaq Index lost 2.1% on noon trading.

“International travel remains problematic and subject to restrictions, isolation and testing,” said Neil Wilson, an analyst at Markets.com. “Airline stocks skyrocket as summer bailouts are promised. I did. “





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

New York-Dow: down 0.4% at 31,398.6 points

EURO STOXX 50: down 0.4% at 3,617.60

London-FTSE 100: 0.2% increase at 6,625.94 (closing price)

Frankfurt-DAX30: down 0.7% at 13,852.53 (closing price)

Paris-CAC 40: 0.2% increase at 5,779.84 (closing price)

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 $ 1.2152 at 2145 GMT

Pounds / $: UP from $ 1.4064 to $ 1.4094

Euro / Pound: Fall from 86.44 pence to 86.21 pence

Dollar / Yen: Up 105.17 Yen from 105.07 Yen

Brent North Sea Crude: $ 65.44 / Barrel Up 0.3%

West Texas Intermediate: $ 61.74 up less than 0.1%



Global Stocks Part Ways, Bitcoin Tumbles Source link Global Stocks Part Ways, Bitcoin Tumbles

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