US financial markets fell on Thursday after the release of US data. This increase was higher than analysts’ expectations, which indicated growth of 0.4%.
The release of this data led to a decline in the S&P 500 Index by 1.02%, closing at 3,902 points, the Dow Jones Industrial Average, declining by 0.84%, to close at 31,818 points, and the Nasdaq Composite Index declining by 1.02%, closing at 14,817 points.
Also, gold prices declined after the release of inflation data, as the price of an ounce of gold fell by 1.41% to close at $1,918.
Analysts believe that rising inflation in the United States may prompt the Federal Reserve to raise interest rates more than expected, which could lead to a decline in financial markets.
Here’s a look at the financial markets’ reaction to US inflation data:
– US crude oil rose by 0.69% to levels of $90.28 per barrel, due to concerns about the continued shortage of global supplies of oil.
Bitcoin fell by 2.01% to levels of $26,573 per piece, due to rising interest rates and the weakness of the US dollar.
The outlook for the future of financial markets remains uncertain, as there are many factors that could affect the markets in the coming period. However, markets are likely to remain under pressure in the coming period as a result of continued high inflation and rising interest rates.
