Markets on Alert
Dow, S&P 500, Nasdaq, and Crypto Fall After PPI Data Raises Inflation Fears"
Futures for the Dow, S&P 500, Nasdaq, and the cryptocurrency market recorded significant declines following the release of Producer Price Index (PPI) data, which measures wholesale inflation.
Investors, concerned about signs of persistent inflationary pressures, are adjusting their positions, anticipating a bearish opening in the stock and cryptocurrency markets.
Wholesale prices rose by 0.9% month-over-month, much higher than the 0.2% expected by economists surveyed by Dow Jones. The index had remained unchanged in June. Wholesale prices can be a leading indicator of consumer prices.
Some traders ignored this PPI figure because the report showed that the increase was due to a significant improvement in portfolio management, along with airline fares. Without these factors, the figures would have been much closer to the estimates.