by JustForex
Considering the rising inflation expectations, investors turned away from technology stocks in favor of more cyclical companies. By the close of the trading session, the Dow Jones Index decreased by -34.94 points (-0.1%), the S&P 500 decreased by -44.17 points (-1.04%), and the Nasdaq Composite lost 350.38 points (-2.55%).
European indices showed mixed dynamics on Monday. However, there were no panic sell-offs as in the US. For instance, the German DAX Index even rose slightly at the end of the day.
Falling stock indices may increase the demand for gold, as the gold price is closely linked to inflation expectations and also depends on the US Treasuries yields.
WTI crude oil futures prices fell during Monday’s US session. On Monday, Colonial Pipeline said that it intends to resume operations on a full-scale basis by the end of the week, but some producers have already cut production. With India’s weekly average COVID-19 reaching a new high, all this could put pressure on demand for “black gold”.
Japan’s Nikkei Index fell by -2.8%, while the broadest Asia-Pacific Stock Index MSCI fell by -1.7%, it’s the biggest drop since late March.
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Main market quotes:
S&P 500 (F) 4,188.43 -44.17 (-1.04%)
Dow Jones 34,742.82 -34.94 (-0.1%)
DAX 15,400.41 +0.76 (+0.01%)
FTSE 100 7,123.68 -6.03 (-0.09%)
USD Index 90.27 -0.04 (-0.04%)
by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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