Wall St dives on record oil over $123
By Ellis MnyanduReuters Wednesday, May 7, 2008; 5:35 PM
NEW YORK (Reuters) - Stocks tumbled on Wednesday, on concerns about inflation and higher interest rates as oil jumped to a record above $123 a barrel.
Investors sold off shares of banks, home builders and companies dependent on consumer spending amid fears that rising prices will crimp demand and exacerbate fallout from the housing slump.
BRICS, Trump, Tariffs, and Brazil
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Brasil logo for July 2025 BRICS conference COGwriter The BRICS+ alliance
has caused a stir as have Trump Administration tariff threats. Here is
something...
3 hours ago
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