As the Biden inflationary catastrophe explodes, stock markets plunged deeper into the red on Friday after data showed that US inflation soared to highest level in 40 years in May, much higher than expected.
Paris’s blue-chip CAC 40 lost 2.7 percent on Friday, Frankfurt’s DAX index was down 3.1 percent, Milan’s FTSE MIB shed 5.1 percent, Madrid’s IBEX tumbled 3.7 percent and London’s FTSE dropped by 2.1 percent.
The data had been eagerly anticipated as investors hungrily look for clues as to the direction of US interest rates at next week’s meeting of the Federal Reserve. But Osborne believes the Fed will go with its original plan, considering a bigger increase would look “panicky.” “Warning signs about the economy are emerging as weekly jobless claims are starting to rise, China’s Covid situation will prove troublesome for supply chains over the next couple of quarters, and as inflationary pressures broaden and show no sign of easing,” said Edward Moya, analyst at OANDA trading group.
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US inflation increased to a 40-year high in MayThe costs of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.
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US inflation hits new 40-year high of 8.6% for MayThe costs of gas, food, and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.
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US inflation hits new 40-year high of 8.6% for MaySURGE: The costs of gas, food, and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.
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US inflation hit 8.6% in May, a new 40-year highConsumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year surge of 8.3%, the Labor Department said Friday.
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US inflation hits new 40-year high of 8.6% for MayAs inflation jumps 8.6% in May, the biggest spike in four decades, consumers like you are hoping the price hikes have peaked. They haven't. From gas to groceries, Eyewitness News is live with the frustrating inflation forecast. Tonight at 11 from ABC7
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