Dow Jones down 200 points with high inflation

This post was originally published on this site

ANKARA

The Dow Jones was down 200 points in the US, while the Nasdaq was on the rise after the much-anticipated inflation data came higher than market estimates.

The blue-chip Dow was down 0.54% to 34,191 at 10.21 a.m. EDT, while the S&P 500 declined 16, or 0.37%, to 4,335.

The tech-heavy Nasdaq, on the other hand, rose 30, or 0.2%, to 14,494 with BlackBerry jumping 6.5%, Zoom Video, and Moderna adding over 3% apiece.

The consumer price index (CPI) in September rose 0.4% from the previous month and 5.4% from the same period of last year — both coming 0.1 percentage point higher than expectations.

Despite rising concerns, the VIX volatility index, known as the fear index, was almost flat at 19.88. The dollar index declined 0.26% to 94.27.

The yield on 10-year US Treasury notes decreased 2.6% to 1.538%.

Crude prices showed some losses with a 0.6% decline with international benchmark Brent crude at $82.91, and US benchmark West Texas Intermediate was at $80.11.

Precious metals were on the rise with gold adding 1.5% to $1,786 per ounce, and silver increasing 2.2% to $23.06.

Bitcoin, the world’s largest cryptocurrency by market cap, was down almost 4% to $54,700.