Stock market timer: US inflation rates again exceeded forecasts

According to the country’s Minister of Economy, Germany could meet its gas demand next winter without imports from Russia by reducing consumption and implementing the projects of liquefied gas terminals in a timely manner. U.S. stock indices rose at the start of the trading session yesterday, but later bears took the initiative firmly. The S&P 500 fell 1.65 percent and the NASDAQ fell 3.18 percent.

Investors fear the Fed will accelerate interest rate hikes to curb price rises. Yesterday, the annual inflation rate in the United States was reported at 8.3 percent in April, excluding food and energy items at 6.2 percent. Although less than in March (8.5% and 6.5% respectively), both figures were 0.2% each. points higher than the median of the Bloomberg forecasts. The NASDAQ index has fallen by almost 30 percent and the S&P 500 by 18.3 percent since its highest level in recent years.

In the cryptocurrency market, when one of the so-called stable coins (TerraUSD) did not maintain parity with the US dollar, a sharp sell-off began. Bitcoin fell 8.38 percent. this morning at 8.30 am In Lithuanian time, another 5.25 percent. – up to $ 26911.25 per unit. Prices of other, less capitalized cryptocurrencies fell 30-40 percent each.

China has further tightened restrictions on social contacts. It is estimated that quarantine has been announced in the country, which produces about 30 percent. GDP. As investors feared a slowdown in the Chinese economy, yields on bonds issued by non-investment-grade Chinese companies rose to 22 percent.

A preliminary estimate of GDP growth in the UK economy in the first quarter will be released today. Compared to 2021, it is projected that in the first quarter, the country’s economy grew 8.9 percent.

On Asian stock exchanges, Japan’s NIKKEI fell 1.70 percent this morning, Hong Kong’s Hang Seng 1.89 percent and South Korea’s KOSPI 1.54 percent.

There was no clear direction in the Baltic stock exchanges (OMXB -0.07 per cent). The price of Apranga shares fell by EUR 0.465 (18.98% to EUR 1.985 per share) on the first day when investors were no longer entitled to a dividend of EUR 0.50 per share. DelfinGroup has announced that in the first 2022 received 7.5 million in the quarter. EUR 1.6 million in revenue. pre-tax profit (24% and 42% higher than in the first quarter of 2021, respectively). The share price of the company did not change, the trading turnover amounted to only 9.7 thousand. euros. The amount of electricity produced by Enefit Green (+0.15%) decreased by 3.3% in April, while thermal energy increased by 9.0%.

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