NEW YORK/WASHINGTON: European stocks notched record closing highs on Wednesday but Wall Street ended the day lower on worries that rising inflation could push the U.S. Federal Reserve to raise interest rates sooner than expected, an outlook that boosted gold.
All three major U.S. indices ended the day lower, as investors processed whether strong consumer activity in the face of rising inflation could spur the Fed to ease back on stimulus faster than once thought.
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