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US WTI crude oil futures closed down 0.2% on Tuesday for the first time in 6 trading days
In the early morning of the 29th Beijing time, US WTI crude oil futures prices recorded their first drop in 6 trading days on Tuesday. The futures closed at their highest closing price in nearly 3 years on Monday. Fawad Razaqzada, a market analyst at ThinkMarkets, said that as technology stocks fell and the exchange rate of the US dollar against emerging market currencies and the British pound soared, “oil prices have finally reacted to continued risk aversion in the stock market and (foreign exchange) market.” West Texas Intermediate (WTI) futures for November delivery on the New York Mercantile Exchange fell 16 cents, or 0.2 percent, to close at $75.29 a barrel.
Luxventure Entered into Agreement with Hainan Supply and Marketing Daji Digital Technology Industry Co., Ltd., the cross-border E-commerce subsidiary of Hainan Airline
Erian: markets are increasingly worried that the Fed is too slow to respond to inflation
Mohamed Mohamed El-Erian, a consultant to Allianz and former chief executive of Pimco, believes investors are indeed increasingly concerned that the Fed may be too slow to respond to inflation problems in the economy. "the market is worried that the Fed will be 'late'," Mr Erian said. That's why the markets themselves are starting to question the liquidity paradigm, because if the Fed turns out to be 'late', it may have to 'slam on the brakes'. " Erian said earlier this month that the Fed publicly promised to wait several months to see if inflationary pressures intensified.
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