Stocks slip from record highs as Gulf tensions escalate
Equities dipped on Thursday following new military strikes between the United States and Iran that disrupted hopes for a regional peace deal. Brent crude rose toward 97 dollars a barrel as investors weighed the impact of energy costs on upcoming inflation data and Federal Reserve interest rate policy.
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Global stocks fell as much as 0.8% this week after military strikes in the Middle East disrupted investor confidence. Fresh strikes on Iran and reports of missile attacks in Kuwait ended a record-breaking tech rally. Core inflation is expected to rise well above the Federal Reserve's 2% target, keeping pressure on central bank policy.
