US inflation data boosts US stock exchanges – tech index Nasdaq rises by five percent

View of Wall Street

The American flag on the New York Stock Exchange.

(Photo: AP)

Frankfurt/New York Good inflation data from the US triggered an “everything rally” on Wall Street. The leading Dow Jones index rose by 3.7 percent on Thursday and closed at 33,715 points. The broad S&P 500 rose 5.5 percent to 3956 points. The technology-heavy Nasdaq even shot up by 7.4 percent to 11,114 points.

“What an unforgettable day for all asset classes,” commented market expert Mohamed El-Erian, who advises Allianz, among others. It was the best day for stocks in over two years. But bonds, commodities and cryptocurrencies were also able to increase. Bitcoin, the largest and oldest digital currency, rose by a good twelve percent to $17,733. Ether, number two, rose 18 percent to $1313.

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