Global equities stalled Wednesday while bitcoin hit a fresh high as traders digested a small rise in inflation and mulled what Donald Trump's presidency might mean for global trade and the adoption of cryptocurrency. US stocks were little changed on Wednesday, as traders digested data pointing to a small increase in the Consumer Price Index (CPI) measure of inflation last month. "The drivers in large part are the fact that the CPI came in very much in line with expectations, and some buzz in the markets yesterday," B.
Riley Wealth Management chief market strategist Art Hogan told AFP. "So that coming in line was very much a positive," he added. Despite inflation matching expectations, there are lingering concerns that Trump's stated plans for sweeping tariffs could prove to be inflationary, forcing the US Federal Reserve to cut interest rates by less than they otherwise would.
"If prices are already looking unruly, expectations will rise for Trump's threats to be watered down," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. For Srijan Katyal, global head of strategy and trading services at ADSS brokerage, "this (inflation data) reading has slightly disrupted the disinflationary pattern we have seen in the last few months but continues to remain stable around the targeted level." Yet, given Trump's election victory, "inflation worries could return to markets," he said.
As inflation edged up, bitcoin, the world's best-known cryptocurrency, soared to a.
