Stocks Slump Amid Inflation Concern; Oil Tumbles: Markets Wrap

Oil drops the most since September while dollar strengthens
Nasdaq 100 craters as growth favorites Apple, Tesla fall

WATCH: Morgan Stanley’s Jim Caron sees bond yields settling down later this year.Source: Bloomberg

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By Claire Ballentine and Vildana Hajric

March 17, 2021 at 9:02 PM UTC

Updated on

March 18, 2021 at 8:05 PM UTC

This article is for subscribers only.

Stocks fell from record highs, oil slumped and Treasury yields touched some of the highest levels in more than a year amid concern the Federal Reserve risks letting inflation accelerate.

The rout in risk assets picked up in the afternoon, starting with a selloff in crude. Oil plunged 8% on concern new restrictions in Europe will hamper demand. Two weeks ago it soared past $65 a barrel to the highest in almost two years.