Concerns over inflation, Delta variant may keep lid on market gains

The surge in US inflation so far had been concentrated in a limited number of areas, such as used-car prices, which may be transitory, says OCBC's Mr Vasu Menon. PHOTO: AFP
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SINGAPORE - A combination of rising inflation and falling consumer sentiment overshadowed good earnings reports and strong retail numbers, injecting volatility into equity markets last week.

The Dow fell nearly 300 points during Friday's (July 16) session, resulting in a 180-point loss for the week to 34,687.85. Meanwhile, the broader S&P 500 slid 42.39 points to close at 4,327.16, and the tech-heavy Nasdaq lost 274.68 points to close at 14,427,24.

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