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Stock indices in Europe ended today's session lower, with the DAX losing 1.12% and the CAC40 losing 0.4%.
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In the currency market, the euro and the Swiss franc are doing particularly well today. The Australian dollar and the Canadian dollar are currently doing worst.
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Market sentiment today was dominated by expectations for tomorrow's US inflation reading, which will be an important component of the Fed's next decision on a September interest rate hike.
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Inflation in Hungary rose to its highest levels in decades at 13.7% y/y.
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The pound was one of the weakest currencies in today's session, after news emerged from British authorities that the worst-case scenario calls for up to 4 days of blackout in January in the face of power and gas outages.
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Oil prices behaved mixed today. At first, the information about the cut in exports from Russia to the countries of Central and Southern Europe led to a recovery and a rise in prices above $90.
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Gold reached $1,800 today, despite a strengthening dollar.
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The crypto market was dominated by declines in most digital assets today. Bitcoin slices more than 3.5% and oscillates just below the $23,000 level, while Ethereum loses 4.6% and breaks out below $1,700.
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US indices recorded declines, with the NASDAQ (-1.2%) and Russell 2000 (-1.9%) in particular under bearish pressure. Nevertheless, at the moment the major indexes have erased some of their earlier losses.
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Weak sentiment persists in the semiconductor sector. Shares of Nvidia, Micron or AMD lost more than 5%. Micron and Nvidia warned in their announcements of possible poor results in the near term, leading to a massive pullback on Wall Street.
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Berkshire Hathaway (BRKB.US) increased its stake in Occidental Petroleum (OXY.US).
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Novavax (NVAX.US) lowered its earnings forecast and reported a quarterly report below analysts' expectations.
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