Wall Street declines amid rising oil prices

Wall Street indices opened lower amid rising oil prices due to the escalating military tensions between the U.S. and Iran, which have heightened concerns about inflation and expectations of higher interest rates. The Dow Jones dropped by 0.18%, the S&P 500 by 0.18%, and the Nasdaq by 0.17%. The likelihood of a rate hike is now estimated at 60% at the Federal Reserve meeting in September, especially after the Fed chair's comments about the need to raise borrowing costs if inflation does not decrease to 2%.

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