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The Economic Times
The Economic Times
Business

US stocks today: US stocks retreat as oil crosses $100, yields rise ahead of inflation data

United States Inflation Oil Dow US Federal Reserve

U.S. stocks closed lower on Wednesday as oil prices surged above $100 a barrel, adding to inflation concerns and putting pressure on equities ahead of key U.S. inflation data that could influence the Federal Reserve's next interest-rate decision, Reuters reported.

The S&P 500 fell 36.36 points, or 0.47%, to 7,637.16, while the Nasdaq Composite dropped 164.77 points, or 0.62%, to 26,256.64. The Dow Jones Industrial Average lost 403.65 points, or 0.76%, to 52,382.42, according to preliminary data cited by Reuters.

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