Buffett Chips Away at Cash Pile With Bigger Occidental Bet

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Reuters

Wall St slides as oil prices surge, Nasdaq confirms bear market

Wall Street’s main indexes fell sharply on Monday, with the Nasdaq Composite confirming it was in a bear market, as the prospect of a ban on oil imports from Russia sent crude prices soaring and fueled concerns about rising inflation. Nasdaq ended down 20.1% from its Nov. 19 record high close, confirming the tech-heavy index has been in a bear market since hitting that record high, according to a widely used definition. Oil prices jumped to their highest levels since 2008 as the United States and European allies considered banning Russian oil imports, in response to the country’s invasion of Ukraine, while it looked less likely that Iranian crude would return swiftly to global markets.

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