US Stocks: $580 Billion Erased at Open
US stocks lost $580 billion at open after oil prices hit a 5-week high, Fed September rate hike odds reached 66.4% and the US 2-year yield climbed to an 18-month high.
SourceAnalysis
US stocks shed $580 billion in market value at the open as oil prices reached a five-week high, September Fed rate hike odds climbed to 66.4 percent and the US 2-year yield touched an 18-month peak, amplifying US equity market losses and Fed rate decision impact across risk assets while oil price surge effects weighed on valuations.
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