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The U.S. dollar has been very strong compared to a myriad of fiat currencies worldwide and this week, the euro dropped below the USD for the second time in 20 years after meeting parity with the dollar in mid-July. The dollar’s recent brawniness has resulted in the largest weekly rise since March 2020, according to Commodity Futures Trading Commission (CFTC) data.

US Dollar Rises, Euro Falters — Stocks, Precious Metals, and Cryptos Drop Lower

On Monday, the Dow Jones Industrial Average dropped 400 points as inflation fears continue to grip Wall Street. The four major stock indexes — NYSE, Nasdaq, Dow, and S&P 500 — all started off the morning (EST) in red compared to the gains recorded last week. Gold and silver markets have felt downward pressure this week as both precious metals are down in value on Monday morning. Furthermore, the global cryptocurrency market capitalization is down 1.4% today as well, and hovering just above the $1 trillion mark.