Wall Street Dips on Rising Crude and Inflation Fears
U.S. stocks fell as rising crude prices revived inflation fears and rate hike expectations. Benchmark yields climbed following hawkish remarks from Federal Reserve Chair Kevin Warsh. Energy shares gained while major stock indexes still headed for monthly advances.
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United States stocks fell on Monday as rising energy prices revived inflation concerns and heightened expectations of tighter monetary policy. The broad sell-off snapped a volatile month of trading across major Wall Street benchmarks. Financial markets are currently pricing in a 65.9% probability of a 25 bps rate hike at next month's FOMC meeting.
