U.S. stocks ended sharply lower on Wednesday, as fears of rising inflation hammered Wall Street. The Dow Jones Industrial Average dropped 681.50 points, or 1.99%, to 33,587.66. The S&P 500 plumped 89.06 points, or 2.14%, to 4,063.04. The Nasdaq Composite declined 357.75 points, or 2.67%, to 13,031.68.
Oil rose to the highest since early March with a second straight weekly decline in U.S. crude supplies underscoring the progress the world has made in draining a record supply glut built up last year. June West Texas Intermediate crude rose 80 cents, or 1.2%, to settle at $66.08 a barrel on the New York Mercantile Exchange.
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