Stocks and Oil Prices Decline Amid Economic Uncertainty as Fed Rate Hikes Loom

World shares and oil prices slipped ahead of a U.S. economic update, with growth expected to highlight economic durability despite Fed rate hikes.

High interest rates are weighing on stocks and housing markets, as the Fed aims to cool inflation without sparking a recession.

Uncertainty over the economic outlook is causing market fluctuations globally.

Long-term Treasury yields have nudged up as the Fed aims to control inflation with higher rates.

Oil prices sank amid concerns that the Israel-Gaza conflict could disrupt supplies, though escalations don't necessarily spike prices.