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US stock market today (May 12, 2026): Oil price surge, inflation fears drag Wall Street, S&P 500 down 0.6%, Nasdaq 0.9% lower

US stock market today (May 12, 2026): Oil price surge, inflation fears drag Wall Street, S&P 500 down 0.6%, Nasdaq 0.9% lower

US stock market today (May 12, 2026): Oil price surge, inflation fears drag Wall Street, S&P 500 down 0.6%, Nasdaq 0.9% lower
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US stocks retreated on Tuesday as rising oil prices, sticky inflation and a selloff in technology shares cooled Wall Street’s record-setting rally.The S&P 500 fell 0.6 per cent after closing at an all-time high in the previous session, while the Dow Jones Industrial Average dropped 288 points, or 0.6 per cent. The Nasdaq Composite declined 0.9 per cent, weighed down by sharp losses in artificial intelligence-linked stocks.Chipmakers and AI-focused companies led the decline after a blistering rally earlier this year. Intel Corporation fell 4.7 per cent, trimming gains after the stock had more than tripled in 2026. Micron Technology dropped 4 per cent, while CoreWeave slumped 8 per cent.Investor sentiment…

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