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Kingsbury Strikes Gold to Open Canada’s Medal Count

Canada's Mikael Kingsbury wins Olympic gold in men's dual moguls. Mikael Kingsbury has delivered a landmark moment for Team Canada, capturing the nation’s first gold medal of the Milan Cortina Olympics. The freestyle skiing superstar put down a commanding moguls run, blending speed, precision, and trademark control to secure the top spot. Already regarded as one of the greatest moguls athletes in history, Kingsbury added yet another highlight to his remarkable career. His victory energized the Canadian contingent and set a confident tone for the days ahead. As the flag rose behind him during the medal ceremony, Kingsbury’s performance stood as both a personal triumph and a powerful start to Canada’s Olympic campaign.
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Inflation Jitters Rattle Markets: Dow Plunges 500 Points

U.S. stock markets were gripped by turbulence today as investors grappled with a hotter-than-expected January inflation report. The data revealed that prices cooled at a slower pace than anticipated, sending shockwaves through Wall Street.

Here are the Numbers

  • The Dow Jones Industrial Average (DJI) plummeted 1.4%, shedding approximately 500 points.
  • The S&P 500 (GSPC) followed suit, experiencing a similar drop.
  • The tech-heavy Nasdaq Composite (IXIC) led the day’s sharp declines, closing down 1.8%.

Impact of Inflation

  • The Consumer Price Index (CPI) release for January showed “core” prices increased by 0.4%, marking the largest monthly gain since April 2023.
  • On a headline basis, prices surged 3.1%, surpassing economist estimates but decelerating from December’s 3.4% annual gain.

Bitcoin’s Comeback

  • Meanwhile, the price of Bitcoin (BTC-USD) hovered below $50,000 after breaching this closely watched level for the first time since 2021.

Market Fallout

  • It was the worst day for both the Nasdaq and S&P 500 since January 31, while the Dow experienced its most significant decline since March 2022.
  • Small caps also suffered, with the Russell 2000 (RUT) closing at its lowest level since June 2022.

As investors recalibrate their expectations, uncertainty looms over the path forward. Will the Federal Reserve’s next move address these inflationary pressures? Only time will tell.


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