• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Global markets edge lower as U.S. inflation data raises more questions

September 14, 2021 by David Barret Leave a Comment

September 14, 2021

By Elizabeth Dilts Marshall

NEW YORK (Reuters) – World markets edged lower and the dollar fell on Tuesday after data showed U.S. inflation rose by less than expected, stoking uncertainty over U.S. central bank policy.

MSCI’s world stocks benchmark fell 0.53 points or 0.03%.

European shares were 0.03% lower, while U.S. stocks were mixed on Tuesday.

The Dow Jones Industrial Average fell 177.63 points, or 0.51%, the S&P 500 lost 6.37 points, or 0.14%, and the Nasdaq Composite added 29.07 points, or 0.19%.

The Labor Department said on Tuesday its Consumer Price Index (CPI) excluding the volatile food and energy components edged up just 0.1% last month, compared to an expected increase of 0.3%. That was the smallest gain since February and followed a 0.3% rise in July.

The data comes ahead of the U.S. Federal Reserve meeting next week, raising new questions as to when the Fed will begin tapering its asset purchases.

“While pandemic-sensitive factors, including airfares and hotels, dragged on prices in August, underlying signals were somewhat firmer, suggesting a stabilizing source of support for inflation in the months ahead,” wrote Morgan Stanley Chief U.S. Economist Ellen Zentner.

Fears that inflation may prove more prolonged than central bankers expect have kept stocks down in September after seven-months of gains as the global economy appeared to be recovering from the COVID-19 pandemic.

The prospect of a corporate tax rise in the United States from 21% to 26.5% as part of a $3.5 trillion budget bill remains front and center for investors.

Investment bank Goldman Sachs Group Inc estimates that if Democrats succeed in raising the corporate tax rate increase to 25% and get half of the hike proposed in foreign income tax rates, it could shave 5% off S&P500 earnings in 2022.

In Asia, China’s tightening grip on its technology companies again kept investors on edge. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.4%.

Hong Kong’s Hang Seng Index sank 1.2%, and China’s blue-chip CSI300 index lost 1.5%. China’s technology stocks are being closely scrutinised after authorities told tech giants to stop blocking each other’s links on their sites.

A series of tightening regulations has dragged down the Hang Seng Tech Index by nearly 40% since its peak this year in February.

The Nasdaq Golden Dragon China Index, which tracks Chinese companies listed in the United States, fell 1.1% on Monday. It has declined 35.5% over the past six months.

“We are still concerned about the regulations,” Luke Moore, Oreana Financial Services chief executive, told Reuters.”We don’t see an end in sight to the changes yet. Everyone is looking for clarity on how far the regulations will go and what could be next.”

The dollar index fell 0.173 points or 0.19%, to 92.502.

The euro was last up 0.10%, at $1.1820.

The yield on 10-year Treasury notes US10YT=RR was down 1.8 basis points to 1.306%.

Bond yields in the euro area moved up, with Germany’s 10-year yield, the benchmark for the bloc, at -0.30%, hitting a two-month high. [L8N2QG19D]

Oil prices hit a six-week high on Tuesday on concerns that another storm could affect output in Texas. Brent crude was last up $0.15, or up 0.2%, at $73.66 a barrel. U.S. crude was last up $0.18, or up 0.26%, at $70.63 per barrel.

Spot gold prices rose $12.2709 or 0.68%, to $1,805.76 an ounce. [GOL/]

(Reporting by Elizabeth Dilts Marshall in New York; Tom Arnold in London and Scott Murdoch in Hong Kong; editing by Angus MacSwan)

Source Link Global markets edge lower as U.S. inflation data raises more questions

David Barret
David Barret

Related posts:

  1. YouTravel.Me packs up $1M to match travelers with curated small group adventures
  2. Welcome to TechRadar’s PC Gaming Week 2021
  3. Best Apple Watch: the ultimate guide to pick your iPhone compatible smartwatch
  4. Virgin Galactic looks to late September, early October for first commercial crewed flight

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • DNA From Greenland Sled Dogs – Maybe The World’s Oldest Breed – Reveals 1,000 Years Of Arctic History
  • Why Doesn’t Moonrise Shift By The Same Amount Each Night?
  • Moa De-Extinction, Fashionable Chimps, And Robot Surgery – No Human Required
  • “Human”: Powerful New Images Mark The Most Scientifically Accurate “Hyper-Real 3D Models Of Human Species Ever”
  • Did We Accidentally Leave Life On The Moon In 2019 – And Could We Revive It?
  • 1.8 Million Years Ago, Two Extinct Humans Had One Of The Gnarliest Deaths In History
  • “Powerful Image” Of One Of The World’s Rarest Tigers Exposes The Real Danger In Taman Negara
  • Evolution, Domestication, And A Lot Of Very Good Boys: How Wolves Became Dogs
  • Why Do Orcas Have White Spots Near Their Eyes?
  • Tomb Of First King Of Ancient Maya City Discovered In Belize
  • The Real Reason The Tip Of Your Tape Measure Wiggles Like That
  • The “Haunting” Last Message From NASA’s Opportunity Rover, Sent From Inside A Planet-Wide Storm
  • Adorable Video Proves Not All Gorillas Hate The Rain. It Might Even Win One A Mate
  • 5,000-Year-Old Rock Art May Show One Of Ancient Egypt’s First Rulers
  • Alzheimer’s-Linked Protein Levels “20 Times Higher” In Newborn Babies – What Does This Mean?
  • Americans Were Asked If They Thought Civil War Was Coming. The Results Were Unexpected
  • Voyager 1 & 2 Could Be Detected From Almost A Light-Year Away With Our Current Technology
  • Dams Have Nudged Earth’s Poles By Over 1 Meter In The Past 200 Years
  • This Sugar Could Be A Cure For Male Pattern Baldness – And It’s Been In Our Bodies All Along
  • “Cosmic Immigrants”: Daytime Star Seen In 1604 May Be An “Alien Type Ia Supernova”
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version