GLOBAL MARKETS-Stocks slip, dollar gains as inflation concerns simmer
Global equity markets slid and the dollar rose on Wednesday after a strong private payrolls report and surging energy prices fueled the inflation outlook and expectations the Federal Reserve will soon taper its massive bond purchases. U.S. private payrolls increased by 568,000 jobs in September as COVID-19 infections subsided, or 140,000 more than economists polled by Reuters had forecast, according to the employment report from ADP that pointed to a recovering jobs market. But ADP has been an unreliable predicator of the non-farm payrolls data the Labor Department will release on Friday, which should signal whether the Fed announces in November a timeline for tapering its $120 billion a month in bond purchases.
Published:10/6/2021 11:35:11 AM