Hot CPI → Market Selloff: Gold, Stocks, Crypto All Flush
A hotter-than-expected CPI print sent gold down nearly $100/oz, the USD to its highest since April 2025, and raised October Fed rate hike odds to 35%. Crypto, equities, and chips are all deep in the red with multiple sources flagging a potentially extended drawdown.
What we know
Gold broke below $4,100/oz (down ~$100) and the Dollar Index hit highs not seen since April 2025. Polymarket odds of an October Fed rate hike surged to 35% with PPI data due tomorrow. Five of the 10 largest US banks are in bear market territory. The Philadelphia Semiconductor Index is on its 6th straight red day. BTC has accepted below prior-week VAL with ETF cost basis near $81.5K as a key support. ETH open interest surged with shorts piling in post-CPI. an account on X is drawing comparisons to October 1929 and pre-Liberation Day 2025.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.