Skip to content

Stocks Trim Gains as Inflation Concerns Increase: Markets Wrap

  • European bonds decline as German inflation hits a fresh record
  • Dollar slips for a third day; Bitcoin surges past $31,000
Video player cover image
WATCH: Shanghai is bringing measures to support an economy that has been battered by Covid lockdowns. Emma O’Brien reports.Source: Bloomberg
Updated on

Stocks and US futures trimmed their advance and European bonds tumbled after hotter-than-expected German inflation numbers added to pressure for action from central bank policymakers to tame rising prices.

European equities pared a fourth day of gains, still on course for the longest winning streak since March. Luxury stocks outperformed Monday as China’s reopening plans boosted sentiment. Shares in theater chain operator Cineworld Group Plc soared after the movie “Top Gun: Maverick” topped the Memorial Day weekend box office.  Bitcoin posted its biggest gain in two weeks, rising above $31,000 for the first time since May 16.