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The war, oil prices, Fed caution, inflation and mega-tech all contributed to an ugly finish Friday. The combination locked up a third consecutive losing session to cap a fourth week of losses across the board.
New developments in the war with Iran, both in the Middle East and back here at home, continue to come out rapidly. For the very latest news on the conflict, and the impacts, updates can be found here.
We're already feeling the pains of higher gas prices, but the war's disruptions and fallout don't stop there. Other industries are also taking hits that could eventually spill into tech, medicine, and food costs.
The central bank, as expected, remained on hold with its rate cutting Wednesday. Fed chairman Jerome Powell pointed to inflation uncertainty and the impacts of the war as key reasons to stay on pause.
The Fed's inflation concern was certainly backed up by the February PPI report. In the weeks just prior to the war, producer price hikes rose at a pace that was more than double what economists expected.
The war in the Middle East will continue to be the main driver in the week ahead. The Fed's rate hold and hawkish outlook will remain a hot topic, and an update to the sentiment survey will land on Friday.
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