NEW YORK, Aug 30 (Reuters) - U.S. stocks fell on Tuesday, led by declines in retailers, insurers and transportation companies, a day after Hurricane Katrina hit the Gulf Coast, causing oil prices to soar to a new record.
The market was also jolted by minutes of the rate-setting meeting of the Federal Reserve on Aug. 9, which showed most participants viewed U.S. inflation as having accelerated and high energy prices as a "significant drag" on the economy.
AND THIS
Energy Prices, Jobs Climate Underscore Policy-Makers' Need for Rate Hike, Fed Minutes Show
WASHINGTON (AP) -- Surging energy prices and a strengthening jobs climate raised the risk that inflation could worsen, underscoring the need for Federal Reserve policy-makers in August to keep boosting short-term interest rates higher.
**Some last minute tinkering saved todays market, don't be fooled it is safe. Perfect STorm is here. INVERSION of yield curve is next
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