Stocks slip, crypto under pressure amid inflation worries
By Tom Arnold and Hideyuki Sano
Reuters
LONDON/TOKYO (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.
Wednesday, 19 May 2021 11:07 AM MYT
While cryptocurrencies were bruised by China’s fresh ban on their transactions, they were not alone in facing pressure. Reuters pic
Subscribe to our Telegram channel for the latest updates on news you need to know.
TOKYO, May 19 Asian stocks dipped and cryptocurrencies extended losses today as uncertainties over inflation prompted investors to reduce exposure to riskier assets for now.
Also weighing on digital coins was a new Chinese ban on financial institutions providing services related to cryptocurrency transactions.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.3 per cent though Hong Kong and South Korea are closed for holiday.
Wednesday, 19 May 2021 02:19 PM MYT
Mainland China’s CSI300 slipped 0.1 per cent while Japan’s Nikkei lost 1.5 per cent. Reuters pic
Subscribe to our Telegram channel for the latest updates on news you need to know.
TOKYO, May 19 Global stocks slipped and cryptocurrencies sank today 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 per cent lower.
Read more about Asian shares slip, bitcoin extend losses as inflation worries linger on Business Standard. Also weighing on digital coins was a new Chinese ban on financial institutions providing services related to cryptocurrency transactions
GLOBAL MARKETS-Stocks slip, crypto hemorrhage deepens amid inflation worries Reuters 4 hrs ago European stock futures down 1%, Nikkei loses 1.5% Cryptocurrencies hit by fresh China measures Bitcoin plummets 10%, down 40% from peak last month Global asset performance http://tmsnrt.rs/2yaDPgn
By Hideyuki Sano
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 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.