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IPFS News Link • Economy - International

Peter Schiff: Are Global Financial Markets Beginning To Decouple?

• Zero Hedge

In his first podcast of 2021, Peter analyzed the unusual day on Wall Street and explored a significant question: are we beginning to see the decoupling in the global financial markets that he's been predicting for years?

The major indexes opened up but then closed sharply down on the day. The Dow Jones set a new record before falling 382 points. The S&P 500 set a record and then dropped 1.5%. The NASDAQ started strong, although it didn't set a record, but then followed the other indexes lower, closing down 189.8 points.

Meanwhile, the dollar continued to show weakness against the euro, the yen and particularly the Chinese yuan. The dollar dropped just over 1% against the Chinese currency. Peter called this move "extremely rare."