Big-Tech & Bitcoin Pumped As Banks, Bonds, & Bullion Dumped zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
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One might think upon first glance that Tuesday s equity market pricing across equities, coming off of a three day weekend, to be inconsequential. After all, the now obsolete Dow Industrials (still a financial media fave) picked up 0.13%, while the far more important S&P 500 and Nasdaq Composite surrendered 0.05% and 0,09% respectively. While these three large cap indices seem to send a quiet message, that message would be incorrect.
True or False: Inflation = Stock Market Sell-off? :: The Market Oracle :: marketoracle.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketoracle.co.uk Daily Mail and Mail on Sunday newspapers.
The topic of inflation has been grabbing a lot of financial headlines.
Indeed, financial journalists have blamed inflation for recent stock market sell-offs.
On May 11, when the Dow Industrials closed 475 points lower, an intraday headline said (Reuters):
Wall Street drops on inflation jitters, led by tech stocks
The next day, on March 12, the sell-off persisted. Another financial news source noted (CNBC):
Dow tumbles 680 points in worst decline since January as hot inflation reading spooks investors
So, at least two news organizations agree that inflation was the culprit behind the sell-offs.
However, investors who follow the news closely may have done a little head scratching. Meaning at the start of the same week (May 10) the Dow climbed to a record high. So, were inflation worries absent on that day? Not according to this May 10 headline (CNBC):