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Oil Spikes, Rates Surge: Fed Hike Risk Hits Stocks, Lifts USD & Crude

Yahoo Finance Read original source (opens in a new tab)
The Story

News Summary

  • Iran conflict-driven Hormuz closure spikes oil, fueling inflation (CPI 3.8%) and pushing Treasury yields/mortgage rates to multi-year highs.
  • A September Fed rate hike is possible, favoring financials, energy, healthcare, industrials while pressuring rate-sensitive equities and boosting USD and oil.
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