Market Recap | Dow Drops After Data on Producer Prices
Stocks turned lower after producer-price data came in hotter than expected, disappointing investors who had hoped for signs of easing inflation before the Federal Reserve’s meeting next week.
The $S&P 500 index(.SPX.US)$ fell 29.13 points, or 0.7%, to 3934.38 Friday after wavering for much of the day. The $Dow Jones Industrial Average(.DJI.US)$ was down 305.02 points, or 0.9%, to 33476.46. The technology-focused $Nasdaq Composite Index(.IXIC.US)$ slipped 77.39 points, or 0.7%, to 11004.62.
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