Mountain Valley MD kicks off commercial sales of Agrarius, an agro plant technology KULR Technology receives special DoT permits to boost SafeCase product energy levels Generation Hemp (OTCQB:GENH) posts record revenue in July by processing more hemp biomass and pre-selling some inventory South Star Battery Metals engages drilling company from maiden campaign at Alabama Graphite (CSE:ALP) project announces time and money-saving hiring solution Shortlistįirst Mining Gold says partner Big Ridge Gold has earned a 51% stake in Hope Brook project having completed first stage of earn-in Great Panther Mining inks deal to sell Coricancha mine in Peru to Newrange Gold Newrange Gold acquires Coricancha mine in Peru from Great Panther MiningĪmerican Battery Technology highlights key milestones achieved in 'transformational' fiscal 2022 Golden Shield confirms high-grade depth extension at Mazoa Hill Deposit discovers five additional prospects, two drill readyĪmerican Resources Corp division partners with RecycleForce to process rare earth and battery element feedstocks ![]() Southern Silver Exploration encouraged by results of first two drill holes at Oro copper project, New Mexicoīerenberg reiterates 'Buy' rating on Greatland Gold following recent key funding and board strengthening newsįireweed Metals CEO: 'We just can't stop finding zinc' at Macmillan Pass project Google owner Alphabet faces $25.4BN damages claims in UK, Dutch courts over adtech practices 11.50am: Proactive North America headlines: The Dow Jones was similarly in the red, with all major stocks showing declines, from the Travellers Company down by 0.9%, to Intel, which was down by 5%. On the downside, Meta Platforms and Nvidia dragged down the S&P 500, each falling by 7.5%, while Advanced Microsystems slid 7.3% and Eastman Chemicals and Caesars Entertainment both dropped 7%. “Judging by today’s market reaction this narrative wasn’t the one that was being priced, with US two-year yields spiking to their highest levels since 2007, the US dollar surging and equity markets giving up their gains and sliding sharply into negative territory,” he said.Īt midday, the major movers included S&P 500 stocks Corteva, up by 1.8%, while CF Industries was up by 1.5% and Abermarle was up by 1.2%. Hewson also noted that he expects the US Federal Reserve to continue its interest rate hikes, starting with 75 basis points next week. "That may well be true, and today’s US CPI numbers do nothing to change that narrative, because we have still seen a modest fall to 8.3%, but the rise in core prices means inflation is likely to be a lot stickier than perhaps markets had been pricing.” “This week’s initial US dollar weakness was being fed by a belief that perhaps the peak for inflation is now behind us," Hewson said in a statement. Those numbers showed that inflation slowed in August to 8.3% from 8.5%, but there was a bigger than expected rise in core CPI, from 5.9% to 6.3%. Michael Hewson, chief market analyst at CMC Markets UK, said the US consumer price index numbers have put a rocket under the dollar. US indices were in the red at midday, as investor sentiment soured over the US Federal Reserve's plan to increase interest rates until it is clear inflation is on a downward path.Īt midday, the Dow Jones Industrial Average had dropped almost 900 points, down by 2.7% to 31,497, the S&P 500 was down by 3.1% at 3,983, while the Nasdaq Composite was down by 4% at 11,779. “I think we may even go back and retest the June lows,” UBS director of floor operations Art Cashin said Tuesday on CNBC’s “Squawk on the Street.” 12.05pm: Wall Street remains wary The drop erased nearly all of the recent rally for stocks, pulling the S&P 500 back toward its September 6th close of 3,908 and causing some traders to glance back at mid-June, when the index fell below 3,700. The Dow Jones Industrial Average slid 1,276 points, or 3.9%, to 31,105, the S&P 500 tumbled 178 points, or 4.3%, to 3,933 and the Nasdaq Composite slumped 633 points, or 5.2%, to 11,634. US markets nursed heavy losses at the close rattled by stronger than expected inflation data which quashed hopes that the Federal Reserve could relent and scale back its policy tightening in the near future.Īll three major US stock indexes veered sharply lower, snapping four-day winning streaks and notching their biggest one-day percentage drops in over two years.
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