Daily Market Review: Inflation Concerns Drag Equities Lower, USD Rallies

Daily Market Review by Charalambos Pissouros

The US dollar rallied, while equities tumbled, with the #SP500 entering bear market, as market participants became more concerned over high #inflation, after Friday’s data revealed an acceleration in the US headline CPI for May. This has also increased speculation that the Fed may need to move faster and more aggressively, with the #Fed funds futures now nearly fully pricing in a 75bps hike for tomorrow, instead of a 50bps liftoff anticipated up and until the data were out.

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