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Stocks continue decline as inflation, rate hike concerns weigh

Philadelphia Fed’s manufacturing index dropped to 2.6 in May from 17.6 the previous month, its lowest reading in 2 years

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By Lucas Manfredi


U.S. stocks were lower again on Thursday as concerns over Federal Reserve interest rate hikes and high inflation continue to worry investors.

The Dow Jones Industrial Average was down 300 points, or 0.95%, while the S&P 500 and Nasdaq Composite fell 0.68% and 0.4%, respectively.

Oil is trading around $106 per barrel.

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