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U.S. stocks fall amid inflation concerns
U.S. stocks declined on Friday as inflation concerns intensified following statements from Federal Reserve Chair Kevin Warsh, who emphasized the need to achieve the 2% inflation target clearly and swiftly. This led to an increase in expectations of interest rate hikes in the September meeting to about 57%. Despite the decline, the indices are on track to post weekly gains, with the S&P 500 and Nasdaq rising by less than 1%, and the Dow approaching 1%, marking the first weekly gain after three consecutive weeks. Warsh's remarks caused short-term bond yields to rise, while long-term yields remained stable, having a significant impact on borrowing costs in the economy.
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