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Oil prices dropped on Wednesday. Global markets saw a broad selloff. Concerns about economic and fuel demand growth grew. A stronger U.S. dollar also impacted prices. U.S. crude stockpiles reportedly increased. These factors contributed to the decline in oil prices. OPEC+ agreed to a modest output increase for December.
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Indian investors, take note: US stocks plunged Tuesday as banking titans warned of a potential market drawdown, fueled by stretched valuations and AI boom exuberance. Major indexes saw significant drops, with tech shares leading the decline. Concerns over high valuations and profit-taking are mounting, prompting a cautious outlook.
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China's services sector expanded in October, but at its slowest pace in three months, as declining overseas orders outweighed improved domestic demand. While new business grew, export orders contracted for the first time in four months due to global trade uncertainties. Employment also declined, and input costs rose, pressuring profit margins.
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