US stock indexes fell sharply after the publication of statistics on inflation in the United States. According to the Ministry of Labor, consumer prices (CPI) jumped 7.5% in January compared to the same month in 2021, which was a record inflation rate since 1982. In December last year, the growth rate of consumer prices accelerated by 7%. After the release of the data, the yields of American government securities jumped sharply. The interest rate of ten-year US Treasuries has risen above the 2% mark for the first time since 2019. The stock market did not stand aside either: indicators of all 11 S&P 500 industry groups ended trading in the red on Thursday, the subindex of technology companies most sensitive to interest rate hikes fell by 2.1%. The value of Qualcomm Inc. shares decreased by 5.3%, Advanced Micro Devices Inc. – by 5.3%, Adobe Inc. – by 5.1%, Apple Inc. – by 2.3%. The Dow Jones Industrial Average index fell by 526.47 points (1.47%) to 35241.59 points by the close of the market on Thursday. The Standard & Poor's 500 declined by 83.1 points (1.81%) to 4504.08 points. The Nasdaq Composite lost 304.73 points (2.1%) to 14,185.64 points. Analysts expect that high volatility in the stock market will continue until the March Fed meeting, at which the key rate is likely to be increased.
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