Nasdaq drops 3% on inflation fears, WTI oil loses 7.1%

New York, March 18 (AFP/APP):Rising bond yields spurred by concerns over inflation hammered tech stocks and sent Wall Street closing lower on Thursday, while oil markets slid on fears of a renewed demand slump.
The tech-rich Nasdaq Composite Index slid 3.0 percent to close at 13,116.17, while the broad-based S&P 500 lost 1.5 percent to end at 3,915.47.
The benchmark Dow Jones Industrial Average fell 0.5 percent from its record close in the previous session to end at 32,862.17.
In oil markets, West Texas Intermediate lost 7.1 percent to end at $60.00, while Brent North Sea crude fell 6.4 percent to close at $63.28.

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