Winning Streak Ends
Stocks fell on Wednesday, with the S&P 500 index ending its nine-session winning streak. Rising oil prices and U.S. Treasury yields, driven by escalating U.S.-Iran military tensions and inflation concerns, dragged down major tech and semiconductor stocks.
Brent crude oil prices are once again approaching $100 per barrel. Strong economic data combined with rising energy costs have heightened market concerns about persistent inflation, which is believed to hinder the Federal Reserve from cutting interest rates. The market is currently preparing for possible rate hikes this year.$Hang Seng Index(00HSI.HK)$Micron Tech(MU.US)$SPDR S&P 500(SPY.US)
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