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Inflation and war effects affect Wall Street

New York Stock Exchange

Stocks were down on the New York Stock Exchange on Tuesday as Wall Street nears the end of a tumultuous month, buffeted by concerns about a possible recession, inflation and rising interest rates.

At midday trading, the S&P 500 index was down 0.9%, the Dow Jones Industrial Average was down 0.8% and the tech-heavy Nasdaq Composite was off 0.8%.

Energy stocks were the only sector to rise in early trading, as the price of U.S. crude oil was at $117.19 per barrel. Oil is already up more than 50% this year and is a major inflationary concern internationally.

President Joe Biden was scheduled to meet with Federal Reserve Chairman Jerome Powell on Tuesday, as high inflation continues to plague the U.S. economy.

SourceAP

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