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Global Markets Dip as Spiking Oil Prices Revive Inflation and Rate Hike Fears
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Wall Street and global markets dip as surging crude oil prices revive inflation and rate hike concerns
Major stock indexes on Wall Street and across Asia retreated on August 31, 2026, as global oil prices surged past $90 a barrel. The jump in energy prices followed recent military exchanges between the United States and Iran, renewing investor anxieties over supply disruptions in the Strait of Hormuz and potential central bank rate hikes.
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