NEW YORK, Sept 12 — Wall Street’s main indexes fell today as Oracle shares slumped, while investors awaited key inflation readings later this week for clues on the Federal Reserve’s interest-rate path.
A recent uptick in oil prices and strong economic data have fuelled concerns over stubborn inflation, clouding the chances of an end to US monetary policy tightening. Traders see a 91 per cent chance of rates remaining at the current levels in September and a near 53 per cent likelihood of a pause in November, as per the CME FedWatch Tool.
Megacaps Amazon.com and Microsoft dropped 0.7 per cent and 0.5 per cent, respectively, while Apple slipped 0.4 per cent ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition.
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