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US stocks fall on rising oil and inflation data
U.S. stocks declined today, Tuesday, amid continued increases in oil prices and tensions in the Middle East, ahead of the release of important inflation data later this week. The Dow Jones Industrial Average dropped 622 points (1.2%), while the S&P 500 fell by 0.5%, and the Nasdaq declined by 0.2%. The sixth consecutive session of rising oil prices has heightened concerns about inflation and its impact on monetary policy, with a 60% probability of the Federal Reserve raising interest rates by 0.25 percentage points following the upcoming consumer prices and producer prices reports. Semiconductor stocks rose to partly offset some of the losses, while yields on U.S. Treasury bonds increased, particularly long-term ones, amid escalating trade tensions between the United States and Canada.
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