Global markets reacted negatively to the latest tariffs imposed by the Trump administration.
In Europe, the FTSE fell 7 points (.084%), the DAX fell 217 points (.96%) and the CAC fell 74 points (.93%).
In the US, the DOW fell 715 points (1.69%), the NBI fell 38 points (.88%), the NASDAQ plunged 481 points (2.70%) and the Russell small cap index fell 42 points (2.05%).
Uni of Michigan survey consumer data showed highest fears for inflation since 1993.
Markets have doubts about future interest rate cuts.
Jerome Powel acknowledged that inflation is rising "in response to tariffs".
US PCE data showed a rise of 2.8% in February - up from 2.6% in January.
US 10 year bond yield slipped to 4.244% We should see the bond yield rise if there are any sustained falls in the share markets.
Oil prices dropped - Brent crude is at US$72.58 per barrel.
Gold price continues to rise and is at $US$3,082 per oz. Silver price dipped a bit. Gold is a hedge against inflation so we could see further firming of the gold price now that the psychological US$3k barrier has been breached.
BITCOIN price had a significant drop and is sitting at US$83,873. Fall in the BITCOIN price often indicates that investors are becoming more risk averse.
IMU Price at posting:
3.3¢ Sentiment: Buy Disclosure: Not Held
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