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U.S. stocks slumped Thursday morning, as oil prices renewed a march upward, following the first Federal Reserve interest rate hike since 2018 and the promises of more to come.
Investors also were worrying about escalation in the Russia-Ukraine conflict, as negotiations have thus far faltered.
The Dow Jones Industrial Average
DJIA,
was trading about 105 points, or 0.3%, lower at 33,960, the S&P 500
SPX,
was off 0.3% at 4,341, while the Nasdaq Composite Index
COMP,
was down 0.6% at 13,347.
Crude oil prices
CL.1,
were on the rise again, with West Texas Intermediate oil on the New York Mercantile Exchange up 7.5% at $102.08 a barrel.
