Nasdaq Down Over 200 Points; US Producer Inflation Rises to 5.4% In August
U.S. stocks fell as August producer prices rose 5.4% year-over-year. Oil jumped 4%, while Asian and European markets were mixed to lower.
Prices that factories pay for things went up more than expected in August, which worried stock buyers today. When companies pay more for supplies, it can mean smaller profits, so people sold stocks to be careful.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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