The U.S. October Consumer Price Index (CPI) rose the most year-on-year since 1990, exceeding expectations, further indicating that as companies transfer cost pressures through price increases, the upward momentum in U.S. prices continues to increase. According to data released by the Ministry of Labor on Wednesday, the CPI increased by 6.2% year-on-year and 0.9% month-on-month, the largest in four months. Both of these figures exceeded the expectations of all economists surveyed by Bloomberg.

The eye-popping growth rate of the US real estate market during the epidemic is showing signs of slowing down. The National Association of Realtors (NAR) announced on Wednesday that the median price of second-hand single-family homes in the third quarter rose 16% year-on-year to US$363,700. It rose 23% in the second quarter. Among the 183 metropolitan areas, about 78% of the areas saw double-digit house price increases, down from 94% in the previous three months.

Bitcoin hit a new all-time high, testing $69,000 for the first time. The CPI data stimulated the market's view that cryptocurrencies can be used to hedge against inflation. Bitcoin rose by 1.9% on Wednesday to $68,991, surpassing the all-time high set by the New York market on Monday. Other cryptocurrencies have also moved higher. The Bloomberg Galaxy Cryptocurrency Index, which tracks major cryptocurrencies, rose 2.4% to its highest level since May.

"The inflation rate may fall, but the possibility that the inflation rate will be higher than 2% for a long time cannot be ruled out," said Robert Holzmann, a member of the European Central Bank Management Committee, at an event in London. Holzmann said that in the next six months, the base effect of Eurozone inflation data should disappear, which will help clarify whether the inflation rise is more permanent. By 2023 or 2024, the inflation rate should fall below 2%. A wage-price spiral is possible, but the current data does not show that this is the case.

Matthew Chamberlain, chief executive of the London Metal Exchange, said at the Reuters Commodity Conference that the exchange will consider whether it should modify the rules to prevent metal stocks from appearing to disrupt the market. "Can any LME trader go to the LME warehouse to withdraw any amount of metal, even if this may have a destructive effect on the market?" "When this metal enters a regulated exchange, we must consider the impact on the market. Impact on pricing".

With the influx of bargain hunting, Tesla, whose market value once fell below $1 trillion, resumed its upward trend. As of 13:00 New York time, Tesla's stock price rose 3.9% to $1,063.23. The decline in the previous three days has wiped out more than $200 billion in the value of the stock market. Tesla was the most bought asset on the Fidelity retail brokerage platform on Wednesday.

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