Dow Falls More Than 200 Points After Warm Inflation Report, Nasdaq Retreats From Record
Stocks fell Thursday, weighed down by a hotter-than-expected U.S. inflation report, as tech shares failed to keep the momentum seen earlier in the week.
The tech-heavy Nasdaq Composite slid 0.6%, dipping back below 20,000. The broad market S&P 500 shed about 0.5%, and the Dow Jones Industrial Average also ticked lower by 234 points, or about 0.5%.
Tech shares led the decline, with Nvidia losing more than 1%. Software giant Adobe declined more than 13% following the company’s weaker-than-expected 2025 outlook. Meta Platforms, Alphabet and Amazon were slightly lower as well.
The producer price index, which tracks wholesale prices, increased 0.4% last month. Economists polled by Dow Jones expected a 0.2% increase on a monthly basis. The 10-year Treasury yield jumped to the highest level in two weeks following the data.
Source : CNBC