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Topline
Extreme weather caused by the first El Niño event in seven years could extinguish the scorching stock market, Charles Schwab cautioned this week, evoking a little-discussed factor that could potentially send inflation surging once again.
Key Facts
The economic effects of extreme weather events such as record temperatures globally and the Canadian wildfires, possibly soon to be accelerated by El Niño, “could be significant for both inflation and economic activity,” Jeffrey Kleintop, Charles Schwab’s chief global investment strategist, wrote Monday.
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