Rate hike concern weighs on global stocks; oil rises

By Rodrigo Campos NEW YORK (Reuters) - Stocks fell on Wall Street on Tuesday after strong U.S. inflation data increased the probability of a rate hike from the Federal Reserve, while a global gauge of stocks ticked lower. A more confident Fed is a Fed that is more likely to hike again this (northern) summer or fall," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin. Traders now see the probability of a rate hike after the Fed's Novembe