Stock markets around the globe fell on Friday and oil prices settled lower after U.S. economic data prompted bets that the Federal Reserve would raise interest rates more than expected and keep them higher for longer to battle stubborn inflation. Friday’s data showed a year-over-year 0.8% increase in export prices versus expectations for a decline of 0.2%. This added to the inflation concerns fueled by Thursday’s data, which showed accelerating monthly producer prices in January and lower-than-expected unemployment benefits claims for last week.
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