Oil surge drags stocks lower ahead of Fed rate decision
Briefing by News4U · First published
Brent crude near $117 on Middle East tensions weighed on markets, with the Dow down 1.2% and chipmakers posting their longest weekly drop since November.
A resurgence in oil prices dragged down stocks and bonds, stoking concerns about inflation just days ahead of the Federal Reserve decision on interest rates, Bloomberg reported. [1]
Brent crude settled near $117 as a flare-up in Middle East violence threatened supplies. The Dow Jones Industrial Average slipped 1.2%. A gauge of chipmakers posted its longest weekly drop since November. [1]
Sources
- Chipmakers Post Longest Weekly Drop Since November
Bloomberg · · Summary only