This was the week when oil reminded markets that inflation hadn’t disappeared - it had merely gone for a cup of tea.
The S&P 500 lost 0.8%, despite Friday’s 0.9% recovery, as rising crude prices and Treasury yields approaching 5% unsettled investors. The index finished at 7,657, while the Nasdaq slipped 0.7%. Wall Street remains historically expensive, so it doesn’t take much - a barrel of oil, an inflation number or a central banker clearing his throat - to frighten the horses....










