CryptoCointelegraphabout 1 hour ago
US PPI Rises 6.5% in October
3 min read
The US Producer Price Index rose 6.5% year over year in October, marking the largest increase since November 2022. This 0.1 percentage point miss against expectations caused Bitcoin to drop 4% and stocks to slip, with the S&P 500 falling 1.2% and Nasdaq down 1.5%. Analysts note a 25-basis-point Fed rate hike is now 89.7% probable.
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