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Bitcoin briefly falls below $80,000 after hot US inflation print
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US consumer prices rose more than expected in April, sending stocks lower and pushing bitcoin briefly under the key $80,000 level before a modest recovery. The data reinforced bets that the Federal Reserve will hold rates steady.
Inflation figures released this week surprised markets with hotter-than-expected readings, yet major stock indexes and cryptocurrency prices showed little lasting reaction.
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Asian stocks fell alongside Wall Street after US inflation data showed faster price growth. Rising oil prices tied to conflict in Iran pushed Treasury yields higher and increased expectations for a Federal Reserve rate increase in 2027.
Mizkan has suspended sales of four natto products due to supply strains from rising procurement costs. The company said the war in the Middle East has pressured packed natto production.
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Petrol prices in South Africa will increase by 14% and diesel by nearly 24% from Wednesday, 6 May, due to the ongoing Iran war. The Department of Mineral Resources and Petroleum (DMPR) announced the hikes amid rising global Brent crude prices. Temporary fuel levy reductions offer some relief.
Building on last week's surge past $100, crude oil prices crossed $110 per barrel on April 29 for an eighth straight session. The rally intensified on reports of possible U.S. plans to extend the naval blockade on Iranian ports, heightening fears of prolonged Middle East supply disruptions via the Strait of Hormuz.
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The Philippine peso closed at P61.30 against the US dollar on Tuesday, April 28, marking a new record low amid global uncertainties from the Middle East conflict.
Fuel product price caps to remain in place for some time: finance chief
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