Stocks, Oil Slide As Inflation, Supply Chain Loom Over Markets

• The prospects of speedier interest rate hikes from the Federal Reserve and ongoing supply chain disruptions weighed on Wall Street Wednesday, while oil dropped on concerns of oversupply and dwindling demand.
• U.S. stocks spent most of the trading day in negative territory, after a Tuesday boost driven by better than expected U.S. retail numbers. Rising inflation and potent consumer demand suggested to investors the Fed could hike rates quicker, while supply chain concerns drove down retailers like Target and Walmart. 
• "The good news for investors is that aggregate demand appears to be weathering the surge in inflation so far," wrote Bank of America analysts in a note. "The bad news is that the combination of robust demand and a large supply shock makes a strong case for Fed tightening."

(Source: Reuters)