Commodities prices rose, while stocks weakened - Tuesday Review, February 23

Commodities prices rose, while stocks weakened - Tuesday Review, February 23

Inflation worries persisted as investors reevaluated expectations for a fast economic recovery

The US

Wall Street pulled back even though Jerome Powell eased the concerns regarding the central bank’s economic support, as the accommodative monetary policy will, for the moment, remain the same. USA30 lost 0.21%, and USA500 dropped 0.41%. TECH100 traded 1.47% lower.

Crude oil added 0.9%, trading at $62.22 per barrel.

Gold closed the session at $1,806.30 per ounce after it slipped 0.1%.

The Dollar Index was up 0.1% at 90.143.

Asia and Australia

Stocks were up on Tuesday, recovering some of the losses reported at the beginning of the week.

HongKong45 was up 0.97% as the lists for the city’s residents to be vaccinated with Sinovac’s Coronavac vaccine opened.

Down under, Australia200 gained 0.54% as the COVID-19 vaccine rollout began.

Japanese markets were closed for a holiday.

Europe

Markets weakened despite the rising prices of commodities and Boris Johnson’s plan to reopen the British economy fully.

Germany30 inched down 1%. UK100 and France40 lost 0.1% and 0.2%, respectively.

Brent oil rose 0.9% to $64.96 a barrel.

EUR/USD was flat at 1.2151.

Sources: reuters.com, investing.com

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