Wall Street falls as inflation fears return

AWANI

U.S. stocks ended the week lower as renewed inflation concerns prompted investors to lock in profits ahead of a historically volatile September, while oil prices edged up and gold posted its strongest monthly rally since April amid rising demand for safe-haven assets.

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00:00U.S. stocks ended lower last week as inflation jitters resurface and investors logged in gains

00:05ahead of historical turbulence September, while oil crapped higher and gold posted its bets

00:11monthly rally since April. Fresh data released Friday showed consumer prices in July continue

00:17to climb, underscoring that inflation risks remain in focus for markets. The three major

00:22U.S. stock indexes all closed lower for the week in energy markets. Could future gain modestly as

00:29investors tracked developments in the Russia-Ukraine conflict and digested data showing a sharper than

00:34expected drawdown in U.S. crude investories, signaling tighter supply. U.S. crude rose about

00:410.55 percent for the week, while Brent crude was up roughly 0.58 percent. Gold futures surged as

00:48investors sold safe-haven assets amid concerns over potential challenges to the Federal Reserve's

00:54independence. The metal gained 2.86 percent last week, with a monthly rise of more than

00:595 percent in August, its best showing since April.

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