Strong U.S. and European corporate results could not stop a slide on Wall Street, where the NASDAQ entered a correction, as rising crude prices kept inflation concerns alive even as bond yields eased a bit after earlier touching fresh multiyear highs.
The NASDAQ closed more than 10% lower from its Nov. 19 record closing high to confirm a correction as investors continue to price in the Federal Reserve moving faster to hike interest rates, fears that led to Tuesday’s sell-off.
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