Oil falls further on Mideast deal, but Fed outlook knocks equities (opens original article in a new tab)

Oil prices dropped further after a US-Iran deal, but Fed's inflation forecast and rate hike projections caused market volatility.

• Oil prices fell after a deal between US and Iran to end their war and reopen the Strait of Hormuz.
• European and Asian stock markets were mixed, with some indexes retreating after the Fed raised inflation forecast and projected higher interest rates.
• The Fed's hint at rate increases caused market wobbles, while the ECB and Fed decisions showed policymakers don't expect lower oil prices to immediately cool inflation.