The US inflation rate in August was higher than expected and the shadow of the Federal Reserve’s aggressive interest rate hike enveloped the financial market. US stocks lost over 1,200 points. The low reached 31,156 yuan, the lowest since mid-September 2019.
The latest inflation data in the US has poured cold water on investors hoping the Federal Reserve will slow the pace of interest rate hikes, with the Dow Jones Industrial Average down 1,276 points, the worst in more than two. years.
Interest rate hike panic has spread, affecting the performance of Taiwanese equities and currency markets. Shares in Taiwan fell more than 370 points today, dropping below the 14,600 point barrier; after the NTD exchange rate opened at 30.99 yuan, it immediately crossed the 31 -yuan full mark and passed again.The price of 31.1 yuan, the lowest intraday price of 31.156 yuan and a sharp depreciation of 2.66 yuan, they also set a record for the lowest intraday price in 3 years.
People at HSBC pointed out that the market was expecting the Fed to raise interest rates by 3 yards next week, but now US inflation is higher than expected, which could make Fed rate hikes more aggressive. and dampen market confidence; the US dollar index rose sharply, the pressure to depreciate non-US currencies will also intensify.
(Editor in chief: Zhuang Yanyu)
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