- Oil pushes against $81, overcoming technical challenges
- Worry inflation may turn into hyperinflation
- Bitcoin rebounds
Futures on the , , and as well as global stocks wavered on Tuesday as surging energy prices threatened to maintain high inflation figures for a while. The ongoing regulatory clampdown in China is also a cause for concern but despite these worries futures on the S&P and NASDAQ outperformed as the tech sector tends to do better in an economic slowdown.
Oil continues to rally
Global Financial Affairs
Stocks in Europe fell right at the open. Sectors sensitive to the economic cycle, such as financials, auto-parts manufacturers and miners suffered the greatest losses. This is the opposite of yesterday, when cyclical industries outperformed. We pointed out yesterday that it didn’t seem to make sense that even though investors are concerned that inflation will disrupt the recovery, markets were continuing to…