Economy

Dow Jones down 200 points with high inflation

CPI up 5.4% in September year-over-year

Ovunc Kutlu   | 13.10.2021
Dow Jones down 200 points with high inflation

ANKARA

The Dow Jones was down 200 points in the US, while the Nasdaq was on the rise after the much-anticipated inflation data came higher than market estimates.

The blue-chip Dow was down 0.54% to 34,191 at 10.21 a.m. EDT, while the S&P 500 declined 16, or 0.37%, to 4,335.

The tech-heavy Nasdaq, on the other hand, rose 30, or 0.2%, to 14,494 with BlackBerry jumping 6.5%, Zoom Video, and Moderna adding over 3% apiece.

The consumer price index (CPI) in September rose 0.4% from the previous month and 5.4% from the same period of last year -- both coming 0.1 percentage point higher than expectations.

Despite rising concerns, the VIX volatility index, known as the fear index, was almost flat at 19.88. The dollar index declined 0.26% to 94.27.

The yield on 10-year US Treasury notes decreased 2.6% to 1.538%.

Crude prices showed some losses with a 0.6% decline with international benchmark Brent crude at $82.91, and US benchmark West Texas Intermediate was at $80.11.

Precious metals were on the rise with gold adding 1.5% to $1,786 per ounce, and silver increasing 2.2% to $23.06.

Bitcoin, the world's largest cryptocurrency by market cap, was down almost 4% to $54,700.

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