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ASX drops again, Wall Street tumbles amid inflation fears

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·Contributing editor
·2-min read
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Here's what we can expect from finance markets for today. Source: Getty
Here's what we can expect from finance markets for today. Source: Getty

Good morning.

Here's everything you need to know in finance markets for today.

ASX: The Australian share market looks set to tumble lower again on Thursday following a selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.5 per cent lower.

Wall Street: In the United States, the Dow Jones fell 2 per cent, the S&P 500 dropped 2.15 per cent, and the Nasdaq sank 2.7 per cent. A strong inflation reading spooked investors.

Oil: According to Bloomberg, the WTI crude oil price is up 0.85 per cent to US$65.84 a barrel and the Brent crude oil price has risen 0.8 per cent to US$69.09 a barrel. Oil prices rose on demand hopes.

Gold: According to CNBC, the spot gold price is down 1 per cent to US$1,817.30 an ounce. The gold price tumbled after US inflation rose quicker than expected.

AUD: The Australian dollar is trading at 0.7733 to the US dollar as at 7.30am this morning.

Bitcoin: Cryptocurrencies were broadly higher on Wednesday, recovering some of the losses made on Tuesday. Ethereum and Bitcoin rise as cryptos recover following a sell off..

International students: The NSW government is determined to revive the state's lucrative education industry and reportedly has a plan to bring international students back to university campuses this year. Under the plan being considered by the NSW Department of Premier and Cabinet, overseas students will be quarantined in Sydney using purpose-built housing.

Bitcoin haul: An Australian computer scientist who alleges he created bitcoin has launched a London High Court lawsuit against 16 software developers in an effort to secure bitcoin worth about $7.4 billion. In a case that was promptly labelled "bogus" by one defendant, Craig Wright is demanding that developers allow him to retrieve about 111,000 bitcoin held at two digital addresses that he does not have private keys for.

Jobs on the rise: There are more jobs available now than ever before, according to a new report, with jobs ads rising 263.7 per cent from last year. This is where jobs are needed the most.

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