Stock prices in the US and Europe fell on Tuesday as market participants worried that the US Federal Reserve (FRS) could raise interest rates higher than expected and for longer in an attempt to curb high inflation.
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February data on high inflation in France and Spain also raised concerns that the European Central Bank (ECB) will also have to raise interest rates even higher.
In Great Britain, food product inflation reached 17.1% in the four weeks to February 19, which is a record level.
Poor US consumer confidence data also contributed to the decline in stock prices on Wall Street.
Eurozone bond yields increased. The German government’s 10-year bond yield hit a 12-year high, while the French government’s 10-year bond yield rose to an 11-year high.
Oil prices rose on expectations of an increase in crude demand in China.
The Dow Jones Industrial Average fell 0.7% to 32,656.70 on Tuesday, the Standard & Poor’s 500 fell 0.3% to 3,970.15, and the Nasdaq Composite fell 0.1% to 11,455.54 points.
London’s FTSE 100 fell 0.7% to 7,876.28 on Tuesday, Frankfurt’s DAX 30 fell 0.1% to 15,365.14 and Paris’ CAC 40 fell 0.4% to 7,267. .93 points.
WTI crude oil rose 1.8% to $77.05 a barrel in electronic trading on the New York Stock Exchange on Tuesday. “Brent” crude oil price on the London Stock Exchange rose by 1.7% to 83.89 dollars per barrel.
On the Dutch exchange “Title Transfer Facility” (TTF) natural gas price fell by 1.59% to 46.67 euros per megawatt hour on Tuesday.
The euro was down from $1.0609 to $1.0583 per euro on Tuesday, the British pound was down from $1.2064 to $1.2013 per pound, and the dollar was down from 136.19 against the Japanese yen. to 136.13 yen per dollar. The euro rose against the British pound from 87.94 pence to 88.01 pence per euro.
