Growth stocks drag Wall St lower on inflation worries

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By Devik Jain and Sabahatjahan Contractor (Reuters) – Megacap growth stocks dragged the Nasdaq and S&P 500 lower on Thursday as investors worried that soaring commodity prices due to the Ukraine crisis will add to inflationary pressures. Growth stocks including, Microsoft Corp, Tesla and Nvidia fell between 0.8% and 2.7%. The energy index gained 0.3% as Brent crude prices climbed to almost $120 a barrel, their highest in nearly a decade, as sanctions disrupted Russian oil sales. Soaring prices of oil and other commodities have raised concerns about surging inflation. Defensive utili…

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