Chipmakers Post Longest Weekly Drop Since November
A resurgence inย oil pricesย dragged downย stocksย andย bonds, stoking concerns about inflation just days ahead of theย Federal Reserveย decision on interest rates. Brent crudeย settled near $117 as a flare-up in Middle East violence threatened supplies. Mostย S&P 500ย firms fell even as selling pressure on tech shares abated. A gauge ofย chipmakersย edged up, but posted its longest weekly drop since November. Theย Dow Jones Industrial Averageย slipped 1.2%.ย Treasuriesย relinquished a portion of the previous sessionโs rally. Co-Host of Odd Lots, Joe Weisenthal says it's important to the US Economy that tech companies fire on all cylinders. (Source: Bloomberg)