Inflation jitters drive Wall Street selloff on rising rates
Stock markets fell for a second straight session as inflation concerns intensified after the Commerce Department reported a 2.4 percent year over year rise in prices and inflation adjusted spending up 0.2 percent in June. The ISM manufacturing index climbed to 54.7 in July, signaling strength that could prompt another 0.25 percentage point rate hike to 5.5 percent before the Fed meeting next Tuesday. Analysts said investors weighed the impact on earnings and borrowing costs as policymakers consider tighter policy amid hot data.
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Police report multiple Baytown incidents and a Channelview arrest
A man reported online laptop payment fraud after sending 550 to a Garth Road address that proved invalid. A Channelview man was arrested after a traffic crash when a bag with over a gram of cocaine was found. A woman reported trash can thefts on Yaupon Drive with a suspicious Ford F 150 seen nearby. Baytown police logged 170 calls from 6am Monday to 6am Tuesday including burglaries thefts and disturbances. Crime Stoppers offers tips at 281 427 TIPS.
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