NewzFinancial markets responded to macroeconomic data on Wednesday, October 14, following the release of consumer price index (CPI) figures in the United States for September, which rose to 3.7%—higher than anticipated. The unexpectedly high inflation data increased the likelihood of further interest rate hikes by the US Federal Reserve.
Despite the negative reaction in Wall Street, where the S&P 500 and Nasdaq were dragged down by losses in the technology sector (while the Dow Jones opened up a slight 0.30% in a mixed opening), the Spanish stock exchange managed a 0.1% gain. Simultaneously, the euro weakened, dropping to a 17-month low against the US dollar, trading at 1.1124.
Separately, in unrelated domestic political developments in Spain, Margarita Robles was named the number two candidate on the PSOE list for Madrid behind Pedro Sánchez ahead of the general elections, amid ongoing coalition discussions involving Podemos and other political figures.
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