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18May2021 Market Close: Wall Street Ends Down As Energy, Communication Services Weigh On Market, DOW Closes Down 267 Points, Nasdaq Down 0.6%, Gold Gains 1870 As Dollar Slides 89.78, Commodities, Crypto, And Stocks Slump


Walmart is doubling down on rollbacks as inflation pushes prices higher (SPY -0.9%). Bitcoin dips to lowest since February amid China crypto warning.
The Market in Perspective
Here are the headlines moving the markets.
$70 Oil Could Put The Brakes On Chinas Crude Buying Spree
Chinas accelerated crude oil stockpiling could be coming to an end with oil at $70 and the possibility that strategic reserves are close to capacity, suggesting that the worlds largest oil importer could slow down crude builds and crude imports. In April, China is estimated to have tapped its crude reserves, according to calculations of Reuters columnist Clyde Russell based on official data. Refiners processed more crude oil last month than the sum of its imports and domestic oil production. This suggests that China used around 280,000 ....

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