US stock market today: Wall Street in red ahead of US Federal Reserve policy review; oil prices climb

Jul 29, 2026 - 22:30
US stock market today: Wall Street in red ahead of US Federal Reserve policy review; oil prices climb

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Markets are currently assigning about a 36% probability to a US rate hike, which, if delivered, would mark the first increase in three years. While higher interest rates help curb inflation, they can also dampen economic activity and weigh on equity valuations.

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