Global markets today: US stocks falls as investors seek inflation data; Bitcoin hits new high
By Sneha Sengupta•Published on March 11, 2024 at 9:34 PM IST
2 min read
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US equities fell on Monday as traders awaited important inflation data that may provide hints about the US Federal Reserve’s intentions to lower interest rates later in the year.
The S&P 500 was down 9.74 points, or 0.19 percent, at 5,113.95, the Nasdaq Composite was down 21.81 points, or 0.14 percent, at 16,063.31, and the Dow Jones Industrial Average was down 75.72 points, or 0.20 percent, at 38,646.97 at 9:39 a.m. ET.
Microsoft lost 0.8 percent of its shares, Amazon lost 1.0 percent, Nvidia lost 0.7 percent, Broadcom and Advanced Micro Devices lost nearly 2 percent apiece, and Boeing lost 2.2 percent.
On March 12, the consumer price index (CPI) statistics for the month of February will be made public.
Companies that deal with cryptocurrency and blockchain, such as Coinbase Global, Riot Platforms, and Marathon Digital, saw increases of 2.7% to 2.9% on Monday, when Bitcoin hit a new high of $72,234. Late on Friday, the yield on the 10-year Treasury increased to 4.09 percent from 4.08 percent. On Monday, European stock markets declined.
The FTSE 100 in Britain fell 0.5% to 7,621.65 points. The CAC 40 for France dropped 0.3% to 8,001.81. The DAX in Germany dropped 0.7% to 17,693.22. The Euro Stoxx 50 fell 0.7% to 4,924.42.
Hong Kong’s Hang Seng Index increased 1.4% to 16,587.57 on Asian stock markets. The Shanghai Composite of China increased by 0.7%. Tokyo Nikkei 225 fell 2.2% to 38,820.49 points.
Due to ongoing geopolitical tensions in the Middle East, oil prices fell on Monday.
By 12:22 GMT, Brent futures had dropped 31 cents to $81.77 per barrel, while US West Texas Intermediate (WTI) had dropped 34 cents to $77.67.
Following a record-breaking rise last week, gold was flat on Monday. At 9:32 a.m. ET (1332 GMT), spot gold was unchanged at $2,179.69 per ounce, having reached a record high of $2,194.99. At $2,186.20, US gold futures saw minimal movement as well.
