Wall St falls on inflation fears; Powell-Biden talks in focus – Reuters
- Date: 31-May-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Wall St falls on inflation fears; Powell-Biden talks in focus – Reuters
May 31 (Reuters) - U.S. stocks fell on Tuesday as soaring oil prices and hawkish comments from a Federal Reserve official spooked investors, with focus turning to talks between U.S. President Joe Biden and Fed Chair Jerome Powell later in the day.
Ten of the 11 major S&P 500 (.SPX) sectors declined in morning trade.
Energy (.SPNY) outperformed with a 1.1% gain as Brent crude climbed above $120 a barrel after the European Union agreed to a partial ban on Russian oil.
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