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Inflation, Growth Haunt Markets; Dollar Surges, Cryptos Tumble

stock may12 lt

A sea of red descended on markets worldwide amidst a less than expected fall in the inflation in the U.S and a less than expected GDP reading from the U.K.

Asian markets closed with losses. European markets are trading in deep negative territory. Wall Street futures are also trading in the red zone. The Dollar Index rose to a fresh 20-year high as the high inflation numbers implied an aggressive stance by the Fed. Bond yields however declined. Crude prices moved lower, as fears of a slowdown in China and a world-wide recession, impacted market sentiment more than the concerns on tighter oil supplies. Gold edged down, notwithstanding the slump in bond yields, as the Dollar surged ahead. Cryptocurrencies tumbled, as a spurt in inflation and fresh stablecoin woes rattled investor sentiment.

Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies.

Stock Indexes:

DJIA (US30) at 31,694.60, down 0.44%
S&P 500 (US500) at 3,914.50 down 0.53%
Germany's DAX at 13,529.78, down 2.16%
U.K.'s FTSE 100 at 7,173.45, down 2.37%
France's CAC 40 at 6,116.40, down 2.45%
Euro Stoxx 50 at 3,558.85, down 2.44%
Japan's Nikkei 225 at 25,748.72, down 1.77%
Australia's S&P ASX 200 at 6,941.00, down 1.75%
China's Shanghai Composite at 3,054.99, down 0.12%
Hong Kong's Hang Seng at 19,380.34, down 2.24%

Currencies:

EURUSD at 1.0435, down 0.72%
GBPUSD at 1.2205 down 0.36%
USDJPY at 128.79, down 0.90%
AUDUSD at 0.6878, down 0.85%
USDCAD at 1.3035, up 0.32%
Dollar Index at 104.46, up 0.59%

Ten-Year Govt Bond Yields:

U.S. at 2.826%, down 2.98%
Germany at 0.8595%, down 14.14%
France at 1.380%, down 10.65%
U.K. at 1.7135%, down 6.26%
Japan at 0.241%, down 1.43%

Commodities:

Crude Oil WTI Futures (Jun) at $103.45, down 2.14%
Brent Oil Futures (Jul) at $105.46, down 1.91%
Gold Futures (Jun) at $1,849.64, down 0.22%

Cryptocurrencies:

Bitcoin at $27,719.52, down 13.24%
Ethereum at $1,895.32, down 21.95%
BNB at $254.03, down 19.14%
XRP at $0.3711, down 28.01%
Cardano at $0.4397, down 32.83%

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