US stocks dip on inflation concerns, precious metals and dollar fluctuate

The Bureau of Labor Statistics reported that consumer inflation in March escalated by 3.5% year-over-year and 0.4% month-over-month, surpassing analysts' predictions. Core CPI, which omits the more volatile food and energy sectors, also exceeded expectations, increasing by 0.4% monthly and 3.8% annually in March.

Amidst these inflationary pressures, the VIX volatility index, often referred to as the "fear index," saw a 5.7% rise to 15.84. Concurrently, the 10-year US Treasury yield climbed 4.3% to 4.550%.

In the currency market, the US dollar index advanced by 1% to 105.17, as the euro weakened by 1%, trading at $1.0743 against the dollar.

Precious metals experienced declines, with gold dropping 0.9% to $2,331 per ounce and silver decreasing by 1.1% to $27.86. In contrast, oil prices showed resilience, with Brent crude, the global benchmark, rising over 1.2% to $90.56 per barrel, and West Texas Intermediate crude, the US benchmark, increasing to $86.31.