Markets on Edge as Geopolitical Tensions Rise Amid US Inflation Concerns

Global markets are on edge due to rising geopolitical tensions and concerns over US inflation. A recent attack by Houthi rebels on an Egyptian vessel in the Red Sea has heightened anxiety, while North Korea's latest missile launch into the ocean has added to the sense of unease.

Taiwan has denounced China's naval exercises as a provocation, further straining relations between the two nations. Meanwhile, oil prices continue to rise, putting additional pressure on inflationary pressures.

The US Federal Reserve will be closely watching today's consumer price index data, which could influence their decision at their upcoming meeting in September. Markets currently show an even chance for an interest rate hike.