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The global equity market has fallen while the US treasury results rose sharply on Tuesday because investors weigh the prospects for higher inflation after a gradual ban on Russian oil imports by the European Union who had raised the price of crude oil to the highest.
The European Union leaders agreed in principle to cut 90% of oil imports from Russia, the toughest sanctions in Moscow since the Ukraine invasion three months ago.New sanctions will apply to Russian crude oil delivered by shipping and will be gradual in more than six months, with processed products implemented for more than eight months. Embargo freed pipe oil from Russia as a concession to Hungary.
The oil price reached the highest on Tuesday after the EU announcement, with a benchmark Brent crude oil rose 1.3% to $ 123.25 per barrel after previously rising to $ 124.64 – the highest since March 9.The US Texas West Texas (WTI) intermediary is traded at $ 117.12 per barrel, up 1.78% in the fourth succession session in succession.Energy is the cost of inputs basically all and high oil prices are poor for inflation, “said Thomas Hayes, a member of the manager at Great Hill Capital.MSCI World Equity Index, which tracks shares in 50 countries, down 0.19%. The Pan-European Stoxx 600 index fell 0.72%.
TREASURY RESULTS U.S. Rise, with most of the maturity reaching the highest one week, because inflation fears dominated trade after the Euro zone inflation rose to the highest record this month.Treasury results also rose, some were driven by Hawkish comments from Federal Reserve Governor Christopher Waller on Monday. Waller said he advocated to maintain a 50-Basis-Poin rate increase on the table until the substantial reduction was seen in inflation, winding hoped that Fed might stop to breathe after the increase in June and July.
The 10 -year benchmark rose to 2,8423%. The market needs to consolidate some aggressive benefits from last week which is a big step from the lowest position and Waller gives them a reason to do it, “Hayes added.On Wall Street, S&P 500 and Dow are traded lower led by the health, industrial and technology sectors. The advantage of Nasdaq Mad after reversing the loss of the previous session.
The average Dow Jones industry is 0.26% to 33,126.64 and S&P 500 lost 0.16% to 4,151.68. Nasdaq composite added 0.13% to 12,146.85.The US dollar rises to all boards when the results of the treasury climb and worry about further acceleration in global inflation make investor risk tastes. The dollar index, which tracks the greenback against six main currencies, rose 0.316% to 101,740. Euro dropped 0.45% to $ 1,0728.Safe-Haven Gold fell and headed to the second month respectively from the decline, suppressed by the increase in dollars and the results of the US treasury that supported the attractiveness of the metal even though the concern would surge in inflation.
