Shares fall with oil prices amid concerns about U.S. Fed rate hikes

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Reuters UK

By Sinéad Carew NEW YORK (Reuters) – The S&P 500 and the Nasdaq finished in the red on Friday and oil prices settled lower after U.S. economic data prompted bets that the Federal Reserve would get more aggressive with interest rate hikes to battle stubborn inflation. Friday’s data showed a year-over-year 0.8% increase in export prices versus expectations for a decline of 0.2%. On Thursday, data showed accelerating monthly producer prices in January and lower-than-expected unemployment benefits claims for last week. Along with hawkish comments from two Fed officials on Thursday, and Goldman Sac…

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