Commodities
Oil Price Surge Sinks Wall Street Amid Inflation Fears
US stocks slid on Monday, August 31, as rising oil prices and hawkish comments from Federal Reserve Chair Kevin Warsh fueled inflation fears and tightened monetary policy expectations.
The war-related surge in crude prices dampened investor risk appetite, pushing benchmark US Treasury yields higher. This development followed Friday's hawkish tone by Warsh at the Jackson Hole Symposium.
Despite the broad sell-off, all three major US stock indexes posted monthly gains, with the Nasdaq showing the largest percentage growth for August due to the AI trade.