US stocks open lower after hot CPI inflation

The major US stock indices are opening in the red after the hot CPI inflation data (as expected). The indices are all down over 1% with the NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index leading the way with a decline of near -2.0%

A snapshot of the market currently shows:

• Dow industrial average -373 points or -1.19%
• S&P index -57.9 points or -1.5%
• NASDAQ index -270 points or -1.94%
• Russell 2000-27.22 points or -1.58%

In other markets,

• gold is down $-5.63 or -0.33% at $1719.33
• crude oil is trading at $95.65. That's down $-0.13 or -0.14%
• bitcoin is trading just above the $19,000 level as traders as traders sell with the risk off sentiment. Bitcoin currently trades at $19,047.
• 2 year yield 3.17%, +11.6 basis points
• 10 year yield 3.01%, +3.7 basis points
• 2 – 10 year spread is currently at -15.9 basis points as markets anticipate a recession due to a Fed that will be forced to over tighten. The spread is at the lowest level in the recent cycle

In the forex,

• The EURUSD remains above the parity level at 1.0025 currently.
• The USDJPY remains below its high price from Mondays trade at 137.747. It currently trades at 137.46.
• The GBPUSD remains below its low from yesterday's trade at 1.18066. The low price reached 1.1825. The price currently trades at 1.1869
• The USDCAD is whipping back and forth as traders prepare for the Bank of Canada decision at the top of the hour. The expectations is for a 75 basis point hike to 2.25% from 1.75% currently.

/Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term