Global markets: US stocks dip after Fed minutes raise concerns on banking crisis, inflation

US stocks dip

The Federal Reserve’s policy meeting minutes from March revealed that officials are worried about the financial crisis and the high inflation, which led to a decline in US markets on Wednesday.

At 4,092.28, the S&P 500 fell by 0.40 percent. At 33,652.63, the Dow Jones Industrial Average decreased by 0.10%. At 11,931.13, the Nasdaq Composite fell 0.84%.

The most recent inflation numbers indicate that the Fed might postpone raising rates next month.

The inflation statistics caused a decrease in US bond yields. Before cutting back the loss, the yield on 2-year Treasury bonds fell by as much as 15 basis points. In comparison to other major currencies, the US dollar fell.


While the Bank of Canada left interest rates steady, Canadian stocks rose on Wednesday. The S&P/TSX composite index of the Toronto Stock Exchange increased 0.2% to 20,454.32.

European stocks

On Wednesday, European stocks increased, with the STOXX 600 index across the continent up 0.1%.

The mega-cap firms’ robust buying demand drove the blue-chip STOXX 50 index in Europe to its highest level since 2001, yet the index only ended slightly higher.

The FTSE 100 in Britain increased 0.5% to 7,824.84. The CAC 40 in France increased 0.1% to 7,396.94. The DAX in Germany gained 0.3% to 15,703.60.

Asiatic stocks

In Asia, volatile trading saw a decline of 0.16% in the largest MSCI index of Asia-Pacific equities outside of Japan.

The Hang Seng index for Hong Kong decreased 0.9% to 20,309.86. At 3,327.18, the Shanghai Composite index increased by 0.4%. Benchmark Kospi for South Korea increased little by 0.11% to 2,550.64.

Nikkei 225 increased 0.6% to 28,082.70 in Japan.

The S&P/ASX 200 index in Australia increased 0.5% to 7,343.90. The benchmark S&P/NZX 50 index for New Zealand increased 0.4% to 11,917.50.

Brent crude

On Wednesday, the price of oil rose 2%. At $87.33 per barrel, June delivery of Brent crude increased by $1.72. Benchmark US crude for May delivery increased $1.73 to $83.26 per barrel.


On Wednesday, gold prices rose sharply. US gold futures ended the day at $2,024.90 per ounce, up 0.3%. An ounce of silver for delivery in May now costs $25.46, up 27 cents.

At $29,941.00, Bitcoin decreased 1.01%.