4E: CPI alleviates inflation concerns, and market risk appetite warms up
On March 13, it was reported that the year-on-year growth rate of CPI in the United States in February fell to a new low since November last year. The year-on-year growth rate of core CPI hit a four-year low. Inflation across the board was lower than expected, easing concerns about "stagflation". Traders increased their bets on interest rate cuts, and market risk appetite increased. According to 4E monitoring, the performance of the three major U.S. stock indexes was divided: the Dow closed down 0.20%, the S & P 500 rose 0.49%, the strong rebound of technology stocks drove the Nasdaq up more than 1.2%, Tesla rose more than 7%, and Nvidia rose more than 6%. However, the market is still worried that the slowdown in inflation may be temporary. The Dow's three-day decline and the S & P's limited gain reflect market caution. The crypto market picked up. Bitcoin rose to US$84,539 at the instant the CPI was announced, and then fell back to around US$80,000 to gain support. After that, it continued to rebound. It has stood at US$84,000, an increase of 2% in 24 hours. Other mainstream tokens mostly rose slightly. Ethereum remained sluggish and strived to stand above US$1900. BNB was boosted by US$2 billion investment in Abu Dhabi, which rose 4.95%.
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