U.S. Stocks Closed Lower Today as New Inflation Data for August and Surging Oil Orices Fueled Fears the Fed could keep Interest Rates High
By Mario Nawfal
Rising government bond rates have made stocks less attractive to investors at the same time.
Adding to inflation woes is a 6% jump in crude oil prices to $107/barrel.
The cost is driven up by disrupted supply routes through both the Strait of Hormuz and the Red Sea as the war with Iran continues.
Traders now see a 70% chance the Fed raises rates by at least 25 basis points at its policy meeting on Wednesday.
Stocks are getting squeezed by anticipated rising rates and higher oil prices…
And they’re running out of juice.
