Stocks Tumble on Oil Spike, Economic Fears

With oil prices returning to record highs, investors are growing wary of possible rate hikes that would hurt economic growth

U.S. equities took another beating on Wednesday as oil prices resumed their march toward record highs on supply concerns stoked by a larger than expected drop in crude inventories. Adding to the gloom on Wall Street were worries that the Fed's anti-inflation stance may further impede economic growth and signs of further economic weakening in the Fed's Beige Book report.

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