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Markets Digest The Hot Inflation Update

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Global markets reacted with disappointment to hotter-than-expected U.S. inflation data, including a surprise jump in September producer price indices. Wall Street futures were directionless, while European stocks traded mixed and Asian markets closed heavily negative. The Dollar Index plunged, bond yields eased significantly, gold rose nearly 2%, and cryptocurrencies fell sharply.

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Sentiment in global markets is dominated by disappointment surrounding the hotter-than-expected inflation updates from the U.S. Close on the heels of Wednesday's hot consumer price inflation readings, data released on Thursday showed unexpectedly high producer price inflation readings.

Data released by the U.S. Bureau of Labor Statistics showed headline producer price inflation at 1.3 percent in September versus 0.5 percent in August. Markets had factored in a level of 0.5 percent. Core producer price inflation also jumped to 0.7 percent from 0.2 percent in August and expectations of 0.3 percent.

Wall Street Futures are directionless. Major benchmarks in Europe are trading on a mixed note. Earlier in the day, Asian markets had finished trading on a heavily negative note.

The six-currency Dollar Index has plunged close to half a percent. Bond yields eased significantly.

Crude oil prices are directionless. Gold has jumped close to 2 percent while cryptocurrencies are trading in heavily negative territory.

Here is a snapshot of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 51,816.30, up 0.38%
S&P 500 (US500) at 7,696.50, down 0.30%
Germany's DAX at 25,262.03, down 0.14%
U.K.'s FTSE 100 at 10,830.31, up 0.98%
France's CAC 40 at 7,915.71, up 0.54%
Euro Stoxx 50 at 6,154.85, down 0.57%
Japan's Nikkei 225 at 64,425.95, down 4.90%
Australia's S&P ASX 200 at 8,719.70, down 0.09%
China's Shanghai Composite at 3,707.48, down 1.59%
Hong Kong's Hang Seng at 24,062.72, down 1.03%
South Korea's KOSPI at 5,554.22, down 7.57%

Currencies:

Dollar Index at 102.13, down 0.41%
EUR/USD at 1.1210, up 0.51%
GBP/USD at 1.3251, up 0.45%
USD/JPY at 157.74, down 0.37%
USD/CHF at 0.8289, down 0.77%
AUD/USD at 0.6903, down 0.98%

Ten-Year Govt Bond Yields:

U.S. at 5.050%, down 2.68%
Germany at 3.3584%, down 3.11%
France at 4.732%, down 3.05%
U.K. at 5.3115%, down 2.19%
Japan at 2.907%, down 3.00%

Commodities:

Brent Oil Futures (Dec) at $104.82, down 1.17%
Crude Oil WTI Futures (Nov) at $95.88, up 0.83%
Gold Futures (Dec) at $4,183.15, up 1.83%
Silver Futures (Dec) at $57.06, up 2.12%

Cryptocurrencies:

Bitcoin at $80,558.08, down 2.58%
Ethereum at $2,348.19, down 5.13%
BNB at $717.44, down 2.61%
XRP at $1.30, down 4.37%
Solana at $101.60, down 3.60%

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