SET Plunges Sharply by 54pts as European Markets Send Negative Outlook
SET Index fell 54 points as the negative sentiment in the European market that opened lower emphasized the negative outlook in the market.
Thai stock market made a sharp plunge in the afternoon session as the negative sentiment in the European market that opened lower emphasized the negative outlook in the market.
As of 15:38 local time in Thailand on May 13, 2021, SET Index fell 54.66 points or 3.48% to 1,517.19 points with a trading value of 100 billion baht.
In the European markets, DAX plunged 1.98%, FTSE fell 2.30%, CAC dropped 1.80% and STOXX600 decreased 1.62%.
The decline was in line with other stock markets in Asia, showing concern over the U.S. consumer inflation data for April that rose 4.2% from a year ago, beating economists expectations of 3.6%, resulting in higher treasury yields and stocks lower.
Amid high inflation rate and a fast-growing economy in the U.S. after the recovery from the pandemic, investors feared that the Fed could hike interest rates sooner than expected.
Meanwhile, Thailand reported a record high of new daily Covid-19 case of 4,887 cases along with another 32 deaths from the virus.