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Falling oil prices help calm Wall Street’s inflation worries, while chip stocks get back to sinking
['Associated Press']
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Falling oil prices help calm Wall Street’s inflation worries, while chip stocks get back to sinkingNEW YORK (AP) – Oil prices are easing and helping to calm Wall Street’s worries that inflation could potentially get even worse.
The retreat in oil prices Monday was just the latest of many big swings since the U.S. and Israel attacked Iran in late February.
On-and-off fighting and comments from Trump about which way the conflict was heading have been the major drivers of rising and falling oil prices.
In Asian trading, Japan’s Nikkei 225 index lost 0.9% to 63,754.90, while the Kospi in South Korea dropped 5.1% to 6,257.45.
Hong Kong’s Hang Seng index picked up 0.5% to 26,009.40 and the Shanghai Composite index lost 0.6% to 3,809.66.