Global markets: US, European stocks rebound as inflation data offsets banking crisis fears
Shares in the US and Europe climbed back on Tuesday on softening US inflation data as it offset fears over banking crisis.
Annual inflation eased to 6.0% in February, US consumer price data showed on Tuesday.
All three major US indices rose. The S&P 500 rose 1.7%. The Dow Jones Industrial Average surged 1.1%. The Nasdaq composite gained 2.1%.
About $465 billion had been wiped off the market value of global financial stocks in just three days, Bloomberg News report said.
European stocks
European stocks gained on Tuesday on rebound in bank shares.
European STOXX 600 index rose 1.5%.
Asian stocks
Asian stocks fell on Tuesday on worries over US banking crisis.
Hong Kong’s Hang Seng fell 2.3%. The Shanghai Composite dropped 0. 0.7%.
Japan’s Nikkei 225 declined 2.2%.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.