Wall Street

Global stocks fall, U.S. yields rise as oil prices reach new highs

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Reuters UK

By Chibuike Oguh NEW YORK (Reuters) -Global equity markets dipped while U.S. Treasury yields rose sharply on Tuesday as investors weighed the prospects of higher inflation following a phased ban of Russian oil imports by the European Union that has lifted crude prices to new highs. EU leaders agreed in principle to cut 90% of oil imports from Russia, the bloc’s toughest sanction yet on Moscow since the invasion of Ukraine three months ago. The new sanctions will apply to Russian crude that is delivered by shipments and will be phased in over six months, with refined products implemented over e…

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