Oil Tops $100 as ECB Decision Looms with US Inflation Data Ahead

The S&P 500 and Nasdaq 100 fell 0.5% and 0.3%, respectively, as Nvidia, Amazon, and Alphabet weighed on US equities.

In Asia, regional indices also declined, with the MSCI Asia Pacific benchmark down 0.8% and Japan's Nikkei losing 0.2%

The ECB rate decision is expected to increase all three benchmark rates by 25 bps, but this move may not have a significant impact on EUR/USD.

The US August PPI inflation data, released shortly after the ECB decision, will likely be closely watched as it could influence market expectations ahead of the Fed's rate decision next week.