Major indices in the US stock market opened lower on Thursday as the major selloff from the previous week continues with investors’ worries of a possible recession and worsening macroeconomic data.
US annual inflation hit 8.3% in April after posting the largest 12-month rise since December 1981 the previous month, while China’s annual inflation rate rose to 2.1%, up from 1.5% in March.
US producer prices increased 11% year-on-year last month, according to the Labor Department figures.
The producer price index (PPI), which measures changes in the price of goods and services from a producer perspective, came in slightly above the market forecast.
Also, the Labor Department announced on Thursday that the number of Americans filing first-time unemployment claims last week rose by 1,000 to 203,000.
The Dow Jones lost nearly 200 points and decreased by 0.54% to 31,660.71 points.
Falling 0.81%, the SandP 500 index registered 3,903.5 points and the Nasdaq fell 1.23% to 11,224.74 points.
The MSCI World index fell 1.5%.
Bitcoin and the entire crypto market’s recent downturn also worsened Thursday.
Source: Anadolu Agency
