Ovunc Kutlu
13 July 2021•Update: 13 July 2021
ANKARA
US stocks closed lower Tuesday after high consumer inflation rattled markets.
The Dow Jones fell 107 points to 34,888, while the S&P 500 was down 15 to 4,369.
After hitting an all-time high on Monday, the Nasdaq lost 55 to 14,677.
The dollar index was up 0.56% to 92.78, and the VIX volatility index, known as the fear index, soared 5.9% to 17.12.
The yield on 10-year US Treasury notes increased 3.6% to 1.412%.
Despite posting a decline Monday after seven consecutive days of increase, gold was up 0.1% at $1,808 per ounce. Silver, however, was down 0.8% below the critical level of $26 to $25.98.
US consumer prices rose 5.4% in June from the same month a year ago, marking its largest 12-month increase since August 2008.
The producer price index (PPI) that will be released Wednesday will give more hints for the Federal Reserve amid rising inflation before a definite answer about an interest rate decision.
