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- Wall Street whipsaws, S&P closes lower on worries of prolonged inflation
- Oil settles mixed amid Beijing lockdown fears, tight supplies
NEW YORK, May 12 (Reuters) – World equities fell on Thursday to an 18-month-low, with markets dogged by fears high inflation would persist and force central banks to keep tightening monetary policy.
In the United States, stocks ended a whipsaw session slightly lower, as investors juggled fears of nagging inflation with signs it could be peaking. The S&P 500 came within striking distance of confirming a bear market since swooning from its all-time high reached in January.
In Europe, economic worries were exacerbated by a German warning that Russia was now using energy supplies as a “weapon.”
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