Stocks tumbled while oil prices pushed higher Friday at the end of a turbulent week in which attacks on Gulf energy infrastructure rattled global markets and sparked fears of a global economic slowdown.
Stocks dipped and oil prices steadied Friday, at the end of a turbulent week in which attacks on Gulf energy infrastructure rattled global markets and sparked fears of an energy shock.
Energy prices soared during a volatile session Thursday, while Wall Street stocks trimmed losses after Israeli Prime Minister Benjamin Netanyahu said the war with Iran could finish sooner than expected.
The European Central Bank warned Thursday that the energy shock unleashed by the Middle East war would sharply push up inflation and hit the eurozone's growth this year.Â
The Bank of England left its benchmark interest rate at 3.75 percent on Thursday as it monitors the inflation outlook, pressured by rising energy prices from the Middle East war.
Oil prices surged Wednesday following a strike on a major Iranian gas facility as the Federal Reserve raised its inflation forecast while holding interest rates steady.
Some of the world's biggest central banks meet this week as fears grow the energy shock unleashed by the Middle East war could fuel inflation and weigh on growth.
