Oil Near $120 Sparks ‘Stampede to Sell’ in Stocks and Bonds
Crude pares gain and stocks recover from lows on prospect that governments will release oil reserves.
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Optimism for a quick resolution of the conflict in the Middle East is rapidly ebbing in financial markets.
What just days ago was a tentative wait-and-see trade has flipped into something far more decisive. Investors are pricing in a deeper and longer-lasting supply shock — one that could squeeze growth while reigniting inflation.