S&P 500 and Dow fall amid inflation concerns following oil price surge
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- 1The S&P 500 fell 0.5% and the Dow Jones Industrial Average fell 1.2% on Friday.
- 2WTI crude oil futures rose 3.8% to reach $103.27 per barrel.
- 3Market participants see a 91% probability that the Federal Reserve will freeze interest rates next week.
So what's the key point?
The stock market declined due to fears that rising oil prices could drive up inflation. Investors believe there is a high possibility that interest rates will remain unchanged next week.
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