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Wall Street falls amid oil and rate worries
Main indices on Wall Street declined due to rising oil prices and bond yields, amid escalating US-Iran tensions and little progress in negotiations to end the conflict in the Middle East. The market also saw a rise in Brent crude oil prices by over 3% and US two-year bond yields reaching their highest levels since 2024, increasing the likelihood of the Federal Reserve raising interest rates. The impact of these developments on corporate performance and economic outlooks was examined, as markets reacted to statements from American and Chinese officials and indicators of ongoing inflationary pressures.
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