Investors fret about reviving US inflation

Chris Beauchamp IG

Inflation fears have hit stock markets again this afternoon, following stronger US PPI data, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

FTSE 100 slips back towards 7500

“After its attempt to make headway yesterday, the FTSE 100 is on the back foot again, and looks set to end the week on a downbeat note. It is in good company, with markets across Europe lower following signs that price pressures in the US are beginning to revive. Stocks have been highly sensitive to bad news throughout August, and a combination of rising US inflation and weak Chinese data in recent sessions has been enough to tip the FTSE 100 to the downside once again.”

US inflation to rise again?

“Strength in United Heath has helped the Dow to outperform other US indices today, as the stronger PPI figures has investors worried about a return to Fed rate hikes later in the year. As earnings season winds down the focus is squarely back on inflation, and after months of declines investors are concerned that price pressures will pick up again into Q4.”

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Chris Beauchamp

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XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.