FXC - Asia Markets Mixed Europe Gains While Crude Oil Trades Above $78 - Global Market Overview While The US Slept | Benzinga
On Tuesday, February 13th, U.S. stock markets closed lower following an unexpected surge in consumer inflation, which tempered anticipations of impending interest rate reductions and drove U.S. Treasury yields higher.
In economic data, January’s Consumer Price Index (CPI) rose by 3.1% on an annual basis, surpassing the anticipated 2.9% yet falling below December’s rate of 3.4%. Meanwhile, core inflation remained constant at 3.9%, exceeding the projected 3.7%. The monthly data outstripped expectations, influencing forecasts for interest rates.
This economic update triggered a significant market reaction, with the Dow Jones Industrial Average recording its sharpest one-day percentage decline in nearly 11 months. The downturn was primarily driven by the unexpected increase in U.S. consumer prices for ...