TORONTO - North American stock markets continued to lose ground as hot new inflation data further raised expectations that central banks, including the U.S. Federal Reserve, will speed up their withdrawal of monetary stimulus. The U.S. reported Tuesday that wholesale prices surged by a record 9.6 per cent in November from a year earlier. It confirmed the existence of persistent inflation in the U.S. and caused bond yields to move up. The S&P 500 index was down 34.88 points at 4,634.09, while the Nasdaq composite was down 175.64 points at 15,237.64. Technology lost 1.5 per cent as shares of Nuvei Corp. and Shopify Inc. decreased nine and 2.9 per cent, respectively.

Source: The North Africa Journal December 14, 2021 21:45 UTC