With the fall in US bond yields, the weakening of the dollar and the worries of rising inflation in the US, the stock markets around the world have seen a sharp rise today. The US Labor Department said that according to Amuman, the Consumer Price Index rose 0.4% in February, compared to a 0.3% increase in January. At the same time core inflation increased by 0.1%. This gave investors a sigh of relief. Also, the US bond yield also fell to 1.47%, this also supported the stock markets and investors returned to the market.
These positive signals led the US markets to reach their highest level of the week today and the Dow Jones Industrial Average closed at a record high. Along with this, there was a tremendous boom in European markets today. The pan-European stock exchange STOXX 600 index reached its 1-year high and rose 0.2% today. At the same time, France’s CAC 40 index rose 0.14% today. Italy’s FTSEMIB gained 0.8%, while Germany’s DAX was flat today. At the same time, the FTSE 100 index of the UK today witnessed a decline of 0.36%.
The MSCI All Country World Index which tracks stocks from a total of 49 countries reached record highs today and gained 0.7%. On the other hand, Japan’s stock exchange today closed 1.78% and South Korea’s Kospi closed 2.3% higher. China’s Shanghai Composite closed up 1.9% and Japan’s Nikkei 225 rose 0.5%. At the same time, the US S&P 500 index today closed 0.7% higher at its two-week high.
The European Central Bank today set its monetary policy and is expected to print more quickly to keep borrowing costs under control. Market experts expected the economy to open up due to the Corona vaccine rollout and could lead to a slight rise in inflation. But worryingly, the $ 1.9 billion relief package from the US could lead to a huge increase in inflation. Investors are now awaiting a decision to be made at a meeting of the US Federal Reserve.
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