Wall Street falls as oil surge sparks rate hike fears
U.S. stocks declined on Monday as surging crude oil prices revived inflation fears and raised expectations of a Federal Reserve rate hike in September. Despite the pullback, major indexes posted solid monthly gains.
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United States stocks fell on Monday as a war-related surge in Brent Crude Oil prices revived inflation fears and raised the likelihood of tighter monetary policy. The broad market pullback closed out a volatile month, though major indexes still notched monthly gains. Wall Street's retreat reflects growing anxiety over energy costs and interest rate trajectories following comments from Federal Reserve officials.
