On Tuesday, local time, the three major U.S. stock indexes experienced the largest decline since June 11, 2020, due to factors such as the U.S. inflation data falling less than expected and the Federal Reserve’s monetary policy likely to continue to tighten sharply. U.S. President Joe Biden acknowledged that it will take more time and determination to control inflation
US Markets pulled back sharply, with the Nasdaq plunging 5% following a hotter-than-expected inflation reading
EU Markets closed in the red, even as UK unemployment hit a 48-year low of 3.6% for the three months to July
Asia Markets were broadly higher, with EV-maker Nio leading gains after an upbeat report by Deutsche Bank
US CPI came in above forecasts to rise 8.3% year on year, raising expectations that the Fed will raise interest rates by 75 basis points
Gold gave back its gains, trading just above the 1700 levels as the dollar rose on rate-hike expectations
WTI Crude Oil tumbled close to 1%, trading at $87.61/barrel at time of writing, following bearish US CPI results
Meta retreated almost 10% as the company’s focus on Reels remains to be less successful than TikTok
Adobe slid 7.06% after BMO downgraded the company due to lowered revenue estimates for 2022 and 2023
Rent the Runway sank 38% having announced poor Q2 results which saw slower subscriber growth
- BRP (BRP.US)
Economic Calendar (15 September 2022)
- Australia Unemployment Rate (August)
- US Retail Sales MoM (August)
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