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GLOBAL MARKETS-Stocks slip, crypto haemorrhage deepens amid inflation worries
Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
Also weighing on digital coins were new Chinese restrictions on financial institutions providing services related to cryptocurrency transactions.
European stocks are expected to drop, with both Euro Stoxx futures and Britain’s FTSE futures trading about 1% lower.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.3% though Hong Kong and South Korea are closed for holidays.
Mainland China’s CSI300 slipped 0.1% while Japan’s Nikkei lost 1.5%.
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Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
GLOBAL MARKETS-Stocks slip, crypto under pressure amid inflation worries Reuters 5 hrs ago Global stocks pressured by inflation jitters European stocks down 1%, Nikkei loses 1.5% Cryptocurrencies hit by fresh China measures Bitcoin recoups some losses Global asset performance http://tmsnrt.rs/2yaDPgn
By Tom Arnold and Hideyuki Sano
LONDON/TOKYO, May 19 (Reuters) - Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen as vulnerable to any removal of monetary stimulus.
Digital coins were also under pressure from new Chinese restrictions on financial institutions providing services related to cryptocurrency transactions.
With bitcoin earlier hitting its lowest level since early February and as the dollar wallowed a near-three month low against its rivals, prices of gold, viewed as a hedge against inflation, held near a four-month peak.