US stocks fall on inflation worries
Wall Street retreated sharply today as investors glumly absorbed a spike in oil prices and comments from two Federal Reserve officials that unexpected economic growth could prompt an interest-rate hike.
Stocks had spent most of the session in positive territory after yesterday’s pullback made for fertile ground for bargain-hunters. The market also got a lift from analyst upgrades of the automobile sector, which sent Ford Motor Co. and General Motors Corp. higher.
