Wall Street declines amid rising oil prices and inflation concerns
Stocks are declining as oil surges above $90 per barrel for WTI crude and over $100 for Brent, raising inflation fears. Bond yields have climbed to 4.70% on the 10-year Treasury, increasing expectations of a potential Fed rate hike in September from 53% last week to 83%. Alphabet's shares fell more than 6%, pressured by concerns over its free cash flow and capital expenditures.
Topics: Alphabet earnings bond yields Federal Reserve policy expectations obesity drug trials oil prices