Hot US CPI Tanks Equity Futures and Crypto

Crypto Market Reaction: US CPI Comes in Hot for December

The US Consumer Price Index (CPI) rose 3.4% annually in December. The so-called Core CPI, which strips out food and energy costs, came in 0.1% above expectations and was up 3.9% year-on-year.

The S&P 500 futures dropped sharply after the news broke. Yields on the ten-year Treasury were flat, while the US dollar index erased an earlier decline. Bitcoin dropped from $47,331 to $46,987 after the news, while Ethereum (ETH) dipped from $2,654 to $2,629.

This is a developing story.



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