Wall Street closes lower as Dow Jones falls 537 points, bond market rout and higher oil prices reignite interest-rate hike fears.

Wall Street tumbled Friday as rising oil prices, surging bond yields and renewed inflation fears triggered a broad selloff across global markets

The Dow Jones Industrial Average fell 537.29 points, or 1.07 per cent, to 49,526.17. Read more at straitstimes.com. Read more at straitstimes.com.