As Worries About Inflation Grow, Stocks Begin To Decline – Europe Market Wrap

Global markets fell Wednesday as investors awaited critical US inflation data, citing concerns that President-elect Trump’s proposed ‘America-First’ policies may rekindle price increases.

Europe’s Stoxx 600 index lost some of its early gains, while contracts for the S&P 500 and Nasdaq 100 fell 0.2%. Elon Musk’s EV maker Tesla and Vivek Ramaswamy’s biotech firm Roivant Sciences both rose in premarket trade after being named to oversee the new Department of Government Efficiency.

However, the Dollar index’s recent surge stalled near two-year highs, while Treasury yields were little changed after rising about 10 bps on Tuesday. Bitcoin also fell following the chart-busting rally that took the asset to almost $90,000.

Dollar strength also drove the Yen above 155 per Dollar for the first time since July, increasing the likelihood that Japan may act to stem the depreciation.