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Sydney - Thursday - March 24: (RWE Australian Business News) - US financial markets have been busily absorbing a string of new situations, especially a stronger US dollar, a rise in retail inflation and lower oil prices, along with yesterday's lift in interest rates by the Fed.
Wall Street's Dow Jones stalled for hours on its previous level and the S&P 500 barely moved.
In the last hour some industrial selling crept in, pushing the Dow down 14 points while leaving the S&P 500 up less than a point.
The Nasdaq composite also finished up less than a point, although there were some signs of interest in technologies, reflected by the 100 index up 7.
The CRB commodities index slumped 6.51 to 306.51 influenced by a sharp drop in the oil price in the wake of the Energy Department report disclosing inventories at their highest level since July 2002.
Last week stockpiles gained 4.1 million barrels to 309.3 million.
May crude oil settled $2.22 lower at $53.81 barrel on the New York Mercantile Exchange and touched a two-week low of $53.40 during the session.
In the market traders recognised that higher interest rates will slow economic growth, thus reducing demand for …