Stocks slip, oil prices turn lower as uncertainty continues

NEW YORK — Technology companies led stocks lower Thursday after another day of choppy trading on Wall Street as global markets keep swinging on uncertainty about where inflation, interest rates and the global economy are heading.

Oil’s back-and-forth moves were just some of the waves of reports that buffeted markets worldwide. The European Central Bank said high inflation will push it to wrap up its bond-buying program meant to boost its economy faster than expected. In the U.S., a report showed that consumer prices leaped 7.9% in February from a year earlier. It’s the sharpest spike since 1982, though the reading was largely within expectations.The war in Ukraine is causing surging gas prices.

Smaller company stocks held up better than the broader market. The Russell 2000 fell 4.62 points, or 0.2%, to 2,011.67. “Until investors can get clarity on some of these topics, we’re going to continue to have volatile markets,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

Many investors said the report likely won’t change anything for the Federal Reserve, which meets next week to vote on interest rates. The wide expectation is that it will raise its key short-term rate by a quarter of a percentage point, which would be the first since 2018. Higher rates slow the economy, and the Fed is trying to raise them enough to tamp down inflation but not so much that it causes a recession.

Brent crude, the international standard, fell 1.6% to $109.33 per barrel. Both it and U.S. benchmark oil are up more than 40% for 2022 so far, though they remain below the peaks they hit earlier this week. U.S. oil briefly topped $130.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks Slump on Wall Street as Oil, Inflation Worries RiseStock market swings have become common in recent weeks, not only day-to-day but hour-to-hour, after Russia’s invasion of Ukraine raised worries about how high prices will go for oil, wheat and other commodities produced in the region.
Source: wttw - 🏆 520. / 51 Read more »

Stocks lose grip on earlier gains to end lower TuesdayStocks finished lower on Tuesday after failing to hold earlier gains, as the Biden administration made good on threats to ban Russian oil imports in a bid to further pressure Moscow to end its invasion of Ukraine.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks Finish Lower as Oil Rises on Russian Oil BanU.S. stocks traded erratically on Tuesday, bouncing between losses and gains as investors tried to keep up with a barrage of headlines
Source: WSJ - 🏆 98. / 63 Read more »

Japan stocks set for quiet start; U.S. announces ban on Russian oil imports amid Ukraine warPresident Joe Biden said Tuesday the U.S. will ban imports of Russian oil, following Moscow's invasion of Ukraine.
Source: CNBC - 🏆 12. / 72 Read more »

Ukraine Says 5,000 Civilians Evacuated From Sumy; European Stocks JumpUkraine has announced its first successful mass evacuation of civilians from the city of Sumy, after days of disruptions due to Russian cease-fire violations.
Source: nbcchicago - 🏆 545. / 51 Read more »

European stocks rally as Ukraine's president cools to NATO membershipEuropean stocks rallied at the start of trade on Wednesday, buoyed by an interview from Ukraine's president in which he appeared to make major concessions. 🇺🇦Cyberpolice🇺🇦 in connection with the imposition of martial law in Ukraine created crypto wallets for charity 0x76136B4d578Df727B132053d9a392eeF202F9a80 ETH, BNB, MATIC, USDT erc20 bc1qdcg86r4rcgf9s6y9nxtyl80xxz62sunw9nevzr (BTC) TMoeioXTNK1xowtuXFQxnFnf5ZLEJmu7y7 (TRX,USDT) Pump everything? UKRAINE NOT JOINING NATO MEANS UP
Source: MarketWatch - 🏆 3. / 97 Read more »